A limited entry perforating phased gun system and method for accurate perforation in a deviated/horizontal wellbore is disclosed. The system/method includes a gun string assembly (GSA) deployed in a wellbore with shaped charge clusters. The charges are spaced and angled such that, when perforated, they intersect at a preferred fracturing plane. Upon fracturing, the fractures initiate at least principal stress location in a preferred fracturing plane perpendicular to the wellbore from an upward and downward location of the wellbore. Thereafter, the fractures connect radially about the wellbore in the preferred fracturing plane. The fracture treatment in the preferred fracturing plane creates minimal tortuosity paths for longer extension of fractures that enables efficient oil and gas flow rates during production.