With a new rig in tow, Brookside Energy taking fresh crack at Juanita well in Oklahoma
Brookside Energy hit a zone of too-high pressure back in November. Now its new rig is ready to go
Source: Unsplash
Mentioned
KEY POINTS
- Brookside Energy is taking a fresh crack at its Juanita well at the company’s Oklahoman oil and gas project
- Drilling was originally suspended in November last year as the former rig encountered zones of high pressure underground, surpassing it’s capacity
- New rig to recommence drilling in the Arbuckle Uplift - Ardmore Basin next week
ASX-listed and Oklahoma-based smallcap Brookside Energy (ASX:BKR) on Thursday outlined its plans to recommence drilling the Juanita well at its US project next week.
Back in November, drilling of the well was suspended due to geotechnical difficulties—namely, downhole pressure in the target was too high.
High pressure created something of an impenetrable membrane for the first rig Brookside was using, which ultimately needed to be swapped out.
Just over a month later, the company is geared up to recommence drilling the Juanita well starting next week.
Juanita potential
The Juanita well sits in the second ‘Area of Interest’ (“AOI”) operated by Brookside called Bradbury, with drilling operations through 2021 and 2022 focusing on the company’s ‘SWISH’ AOI.
The Bradbury AOI straddles a local geological formation, the Arbuckle Uplift - Ardmore Basin. The USA's Office of Scientific and Technical Information (OSTI) notes hydrocarbons are trapped in the associated basins at various points.
“Hydrocarbons are trapped in a variety of individual structures…deep-basin structures having no surface expression…[and] large anticlines developed under mountain overhangs”, OSTI reported in 1990.
Those deep basin structures are what Brookside is after, evident in its plans to run Juanita to a depth of 6,450 feet.
While the area would have seen healthy exploration activity since then (Oklahoma is an energy hub equitable in scope to Texas), Brookside Energy is confident of progress at Juanita.
Operations overview
The smallcap energy company has had success in recent months, with the company already making oil sales in the US market.
The Juanita well targets no less than ten different interpreted oil reservoirs at the target location.
The company notes that those reservoirs are deposits forming part of the ‘Simpson Group,’ a cluster of hydrocarbon deposits proven to host hydrocarbons.
Brookside Chief David Prentice reckons the company is overlooked, given that it already makes sales revenue. The six month charts may support this view
