Burleson Energy (ASX: BUR) expects horizontal drilling at its Truchard-2H development well in Texas to begin next week following mobilisation of the Nabors 456 rig.
The rig will drill the 700 metre long horizontal section of Truchard-2H.
Once this is completed, a fracture stimulation spread will be brought to the site to undertake up to six fracs in the horizontal section.
The well will then be brought on production and generate wet gas and condensate sales.
Independent analysis by Integrated Petroleum Consultants indicates that Truchard-2H should have cumulative production of 7 billion cubic feet of liquids-rich gas and 200,000 barrels of condensate over a 10 year life.
At current commodity prices, this will deliver total gross revenue of US$53 million.
Encouraging results have been achieved in the vertical section with 36 metres of hydrocarbon charged reservoir confirmed by wireline logging.
Logging also found that the lower reservoir unit – Prairie Bell 1 Sand – was thicker and of better quality in this well than in Burleson’s previous three wells in the Heintschel gas-condensate field.
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