Young Oil Corp. Selling 1.1 Million Cubic Feet of Natural Gas Per Day From New Kentucky Gas Field
Posted on: Thursday, 15 June 2006, 09:01 CDT
KNOB LICK, Ky., June 15 /PRNewswire/ -- The Young Oil Corporation announced today that it has started selling natural gas from its new Knox County, Kentucky gas field, at a rate of 1.1 million cubic feet of gas per day.
"We are currently selling natural gas into the Delta Pipeline system near London, Kentucky, from only three wells. We plan to continue to add wells on a regular basis until we are selling from all twelve of the gas wells in the field," said Anthony Young, CEO, Young Oil Corp.
Gas production from the three producing wells includes the KL-5, which came in flowing natural gas when drilling reached the Big Lime formation at a depth of 1,235 feet in February 2006.
"When we got this well under control back in February, we predicted it would have settled in at about 750,000 cubic feet of gas a day. It is currently producing about that amount, choked back because it is keeping other wells from getting into the line. We believe it could produce substantially more if opened up," Young observed.
The well was drilled by DrillPro. Young Oil Corporation owns 100% of the working interest in the well.
"We have a large lease position in this area and plan to continue to develop this gas field with DrillPro over the coming months and years," said Young.
In addition to developing this new Kentucky gas field, Young is developing a 3,700-acre natural gas lease in Fentress County, Tennessee.
Young Oil Corporation is a privately owned oil and gas exploration and production firm, with operations in Kentucky and Tennessee. Young utilizes its own drilling rig to drill all its wells. The Tennessee Oil & Gas Association named young Tennessee Oil Man of the Year in 1999. In 2002, Young had the best productive well to dry hole ratio in the state of Tennessee.
Young Oil Corporation
CONTACT: Anthony Young of Young Oil Corporation, +1-270-453-3208
Source: PRNewswire
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