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June 30, 2021

ExxonMobil acquires stake in Brookside’s Jewell acreage in US

Citation purchased a 2.3% interest in the acreage while smaller oil and gas firms acquired 5.7% stake.

By Archana Rani

ExxonMobil has acquired a 4.5% stake in Brookside’s Jewell Drilling Spacing Unit (DSU) in Oklahoma, US.

ExxonMobil acquired the working stake through its subsidiary XTO Energy.

The Jewell DSU is located within Brookside’s Swish area of interest (AOI) in the Anadarko Basin.

Furthermore, US-based Citation Oil and Gas has purchased a further 2.3% interest in the DSU, which is operated by Brookside Energy’s subsidiary Black Mesa Energy.

Additional working interest of 5.7% has been acquired by private equity and smaller private oil and gas firms.

Brookside, which will retain an 87% stake in the Jewell DSU, said these new partners will be able to participate in the high-impact Jewell 13-12-1S-3W SXH1 well (Jewell Well).

The partners will also be allowed to take part in future wells planned to be drilled in the Jewell DSU, Brookside noted.

Brookside said the drilling has already been completed at the Jewell well, which has been cased with production tubing to prepare it for the next development phase.

In a press statement, Brookside said: “The Jewell Well will be the first Company operated well to be drilled and completed in the Jewell DSU in the SWISH AOI.

“Importantly, this well is the first well in a potential five-year, 20-plus well development drilling program across the three operated DSU’s (Jewell, Flames, Rangers) that the company controls in the SWISH AOI to develop a conservatively estimated 11,606,000 net BOE prospective resource (best estimate, unrisked).”

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