Burleson Energy Spuds First Horizontal Well in Colorado

Australia's Burleson Energy reported Tuesday that it has spud the Truchard-2H horizontal well in Colorado County, Texas.

The well was spud on June 8, 2012 and drilled to a depth of 2,018 feet (615 meters) on June 11, 2012.

Truchard-2H is expected to cost about $6.3 million and it is the first horizontal well drilled at the Heintschel field.

Independent analysis by Integrated Petroleum Consultants showed that the Truchard-2H well could have a cumulative production of seven billion cubic feet (Bcf) of liquids-rich gas over ten years and 200,000 barrels (Bbl) of condensate. At current commodity prices, the well could deliver a total revenue of $50 million over the well's life.

The well is sited 2,575 feet (785 meters) from the Truchard-D1 well. The Truchard-D1 well is one of the three producing wells on the Heintschel Field discovered by Burleson and its partners in 2010.

Drilling will be carried out in three phases with a near vertical section of about 11,500 feet (3,500 meters); a horizontal section of up to 2,300 feet (700 meters) 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 to generate wet gas and condensate sales.

Burleson has a working interest of 83.5 percent in the Truchard-2H well.

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