Re: A little info
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Message: A little info
Additional details on Young oil...this well is in Fendress county....Adjacent MEA's Morgan county northwest....and adjacent to the west AUS 53 wells in Scott county
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Young Oil Corp. Hits 100 Barrel a Day Well in Tennessee |
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KNOB LICK, Ky., Nov. 9 /PRNewswire/ -- The Young Oil Corporation announced here today that it has drilled in a new oil well in FentressCounty with an initial production potential of more than 100 barrels of oila day. The Robert Cole #2, located in the Little Crab community about sixmiles west of Jamestown, began flowing oil when drilling reached theSunnybrook formation at less than 1,000 feet. "We hit oil in several breaks and finally had to stop drilling becauseof all the oil the well was making," said Anthony Young, CEO, Young OilCorp. "We began drilling this second well in the field as we are stillevaluating the first well, the Cole #1. We were not at all surprised whenthis well began flowing. We picked this spot to drill because in 1937 awell was drilled in this area that came in flowing 2,000 barrels of oil aday. "We have more than 1,000 acres of leases around this new well and weexpect to drill many more successful wells in the area. We selected thisarea for development because of the potential for production from bothshallow and deeper depths," Young noted. "It looks like we may have another Newberry field here," Young said,referring to the Newberry field discovered by Young in 2004. The Newberry #11 came in flowing at a rate of 1,728 barrels of oil aday in September 2004. It was the eighth producing well in the field,located in Overton county, about ten miles northwest of this new FentressCounty discovery. Wells in the Newberry field produce oil from several Pennsylvania andOrdovician age formations. The field is still producing today. Young's most recent Tennessee discovery came in March 2007 when theRichard Norrod #1 came in flowing 1,944 barrels of oil a day from theMurfreesboro formation at a depth of 1,400 feet. This field is locatedabout nine miles west of the new Robert Cole #2 well. Young said he will begin drilling offset and step out locations aroundthe Cole #2 in the very near future to capitalize on the current oil pricesof nearly $100 per barrel. Young Oil Corporation is a privately owned oil and gas exploration andproduction firm, with operations in Kentucky and Tennessee. Young utilizesits own drilling rig to drill all its wells. The Tennessee Oil & GasAssociation named Anthony Young Tennessee Oil Man of the Year in 1999 and2004. |
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