Brookside Energy Ltd. and Stonehorse Energy Ltd. have formed a new joint venture—the Orion Project—to acquire producing oil and gas properties in Oklahoma’s Anadarko basin.
The partners have committed to an initial combined investment of $500,000. Brookside subsidiary Black Mesa Energy LLC will identify, acquire, and operate properties on behalf of the joint venture.
The team has acquired, analyzed, and interpreted data sets covering past and current production, geology, reservoir characteristics, wireline and mud logs, drill stem tests, drill core, and 2-D seismic to refine and target opportunities and discussions have commenced on several targets.
The joint venture will acquire producing properties and the associated held by production acreage, with an emphasis on natural gas weighted production from mature vertical wells with upside from remedial workover activities or from unexploited or underexploited behind pipe or deeper productive zones.