By OGJ editors
HOUSTON, May 25 -- Texon Petroleum Ltd., Brisbane, said its second Eagle Ford well, Teal EFS-1H in McMullen County, averaged 467 b/d of oil and 501 Mcfd of gas in its first 30 days on production.
The company noted that the production is 85% oil in line with output from the company’s first Eagle Ford well, Tyler Ranch EFS-1H.
Texon has 100% working interest in the well. Its share of oil and gas being produced from the well is now part of the company’s revenue stream. Texon’s net revenue interest in the production is 75% or some 413 b/d of oil equivalent.
The company expects to spud its third Eagle Ford well in mid-June, not mid-May as earlier expected, due to the late arrival of the rig from another drillsite.