Burleson Energy Limited (ASX:BUR) advises that the Heintschel #1 fracture stimulation (frac) has been successful, and the well has been flowing hydrocarbons to sales over the past 71+ hours. During this time the well has cleaned up significantly and the flow rates of both gas and condensate have increased steadily. The wellhead flowing pressures have also stabilised at about 2775 psi during this period indicating the Heintschel #1 is a strong well with good reservoir permeability.
The well is currently flowing about 2.4 mmcf/d gas and 100 bbl condensate per day through a 18/64" choke. The well has been flowed on various choke sizes whilst the frac fluids are recovered and the well is cleaning up. As a result, neither the maximum flow rate nor the most efficient daily production rate has been established.
Based on the mix of hydrocarbons produced to date, there is a higher than anticipated ratio of condensate to gas at Heintschel #1. This is encouraging from a pure sales revenue point of view and nearly doubles the estimate of contingent recoverable condensate for the Heintschel field. To date, the well is also producing water at a higher than anticipated, but easily managed, rate.
The encouraging flow rates and well performance following the Heintschel #1 frac has prompted the joint venture to revise the immediate work program to focus on the drilling of an appraisal well located on the Heintschel closure some 2900 metres from Heintschel #1.
This is to be followed by an offset development well 366 metres from the Heintschel #1 location. This program will focus on generating cash flow from production wells that can be tied into existing infrastructure. In addition, the appraisal well will further define the size of the contingent resources contained within the broader Heintschel structure.
About Burleson Energy Limited
Burleson Energy Limited (ASX:BUR) has teamed with an experienced Texan oil and gas family (AKG Energy) in the drilling and potential development of hydrocarbons in one of the most valuable energy provinces of America.
BUR listed in May 2006 to acquire a 40% working interest in various oil & gas leases in Burleson County, Texas USA. The Burleson County Properties are located within the prolific Giddings Field area within the Austin Chalk and Georgetown oil & gas trends. Most wells drilled in recent years into the Austin Chalk formation, have discovered gas and condensate.
Late in 2006, BUR embarked on the second phase of asset acquisition by joining with AKG Energy, and major US company, Marathon Oil, to participate in Austin Chalk leases in the Champions area, Grimes and Montgomery Counties, Texas. Combined with some further Champions area leases and acreage in Brazos County - both held by AKG - the new projects provide BUR with at least 7 additional infill development drilling targets. BUR has a 17.5% working interest in these new leases.
BUR's portfolio now consits of a minimum of 25 drilling targets(including 9 firm wells at this stage) providing a continuous drilling programme of at least 18 months, which could extend to several years. Operator AKG is looking to secure a second rig to accelerate the programme.
Contact
Mike Sandy
Managing Director
Tel: +61-2-9450-2002
Fax: +61-2-9986-1753
Email: info@burlesonenergyltd.com
http://www.burlesonenergyltd.com
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