Burleson Energy (ASX: BUR) has flowed wet gas at a rate of 3 million cubic feet per day along with associated condensates from its first horizontal development well at the Heintschel gas condensate field, Texas.
Gas from the Truchard-2H well is being temporarily flared while the drilling fluids are purged, and condensate is being collected and stored for sale.
Truchard-2H is located about 785 metres from the producing Truchard-1 vertical well and is the fourth well targeting the Heintschel field.
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.
It also looks set to pave the way for full development of the Heintschel gas-condensate field, which Burleson anticipates will be financed through a combination of project debt, farm-out and possible corporate joint venture.
Burleson has a 50% working interest and a 1.13% overriding royalty interest in the well and the Truchard unit.
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