The field, located about 112km west-southwest of Houston, was discovered in March when the Thoroughbred-1 exploration well encountered gas-charged sands at about 1300m. The well was flow-tested and completed for production in April.

Operations to tie the well into the local gathering system were completed on Tuesday June 5. The well then began production to sales at a rate of 355 thousand cubic feet of gas per day, according to Target managing director Laurence Roe.

“In just over six months from our listing on the ASX, we are now producing gas and generating income from our first discovery,” Roe said.

“We are also progressing towards production from our second discovery. We anticipate that we can have Snapper A-1 on production within a few months after the well is completed.”

But the development of the Snapper discovery in Louisiana has been hampered by the heavy rainfall.

“The large amount of rain the area has been receiving has made it impossible to move a completion rig on site to commence flow-testing and completion operations at Snapper A-1,” Roe said.

“We have three different rig companies that we can use for completion but need five to six days of clear weather so that our site can dry up enough to move the heavy equipment on location.”

Target has a 25% working interest in both the Thoroughbred field and the Snapper A-1 well.