(MENAFN- ProactiveInvestors - Australia) Burleson Energy (ASX: BUR) has nearly doubled gas production at its Truchard 2H well horizontal well in Texas after opening up the sixth frac sleeve in the well.
Truchard-2H is now producing 2.4 million cubic feet of gas and 60 barrels of condensate per day. Should these rates be sustained, the well could generate US$215,000 net to Burleson per month.
Notably, water production has steadily decreased since Frac Sleeve 6 was brought on stream with the company expecting further improvement as it continues to clean-up and the choke is gradually opened up.
The well is a major step in the development of the Heintschel field and could point the way for further horizontal wells.
Burleson has a 50% working interest in the field.
The company had $2.2 million in cash as of 31 December 2012.
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