Burleson Energy (ASX: BUR) has spudded the Truchard-2H horizontal well in Colorado County, Texas, that targets 7 billion cubic feet of liquids rich gas.
The multi-staged gas-condensate development well with a horizontal section in the Wilcox sandstone reservoir of up to 700 metres within the Wilcox sandstone reservoir also targets 200,000 barrels of condensate.
Independent analysis by Integrated Petroleum Consultants had indicated that this production at current commodity prices would deliver total revenue of U$53 million (A$54.3 million) over the expected 10 year term of the well’s life.
Truchard-2H is expected to cost about US$6.3 million and is the first horizontal well drilled on the Heintschel field.
Drilling will be carried out in 3 phases with the near vertical section of about 3500 metres ; a horizontal section of up to 700 metres that will require a rig with a top drive; and a sox stage fracture stimulation of the horizontal section.
Following this, the well be brought on production and generate wet gas and condensate sales. This will be facilitated by the proximity to the well of hydrocarbon sales and distribution infrastructure.
Burleson has a 83.5% working interest in Truchard-2H.
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