Anadarko confidence boosted

BROOKSIDE Energy says that drilling has confirmed excellent initial production rates in its Anadarko Basin acreage in Oklahoma.

Anadarko confidence boosted From Marathon Oil's Q3 2017 financial and operational review.

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Twelve wells have now spudded across the Aussie junior's acreage with the Landreth BIA and HR Potter wells operated by Marathon Oil delivering 30-day production rates above Marathon's 1.525 million barrels of oil type curve for this part of the STACK play; Brookside holds an 0.8% working interest in the HR Potter and 2.5% in Landreth BIA. 
 
There are also "highly encouraging" initial results from the next two wells that are currently flowing back with rates in excess of 2100boepd, which is encouraging for the company given its relatively higher share of 13.6% and 3.1% working interest in each. 
 
There are two more wells are nearing completion and another two being drilled, which gives Brookside a total well count of 25 across its non-operated working interest and mineral royalty acreage. 
 
"These results further confirm the quality of the acreage within the Anadarko Basin plays," the company said. 
 
Managing director David Prentice said that these production rates with the general ‘play scale' success reported by the tier-one operators in third quarter results, and the successful increased density pilots "are all combining to drive per acre valuations higher and cement the Anadarko Basin plays as the best emerging development plays in North America today". 
 
In September the company hit its 1280 acre target in the basin, putting it on track for its plans for 10 million barrels in proved reserves. 
 
Brookside's average working interest per development unit is close to 5.4%. 
 
Brookside was trading at 1.1c this morning. 
 

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