Young Oil Corp.'s 20th Successful Knox County, Kentucky Gas Well Blows in at 6.9 Million Cubic Feet Per Day
Posted on: Friday, 23 June 2006, 09:00 CDT
KNOB LICK, Ky., June 23 /PRNewswire/ -- The Young Oil Corporation announced today that it has drilled in its 20th commercial gas well in Knox County, Kentucky, without a dry hole.
The new well, the Elvis Farris #1, came in flowing natural gas from the Big Lime formation at a depth of 1,212 feet.
"We were blowing so much gas that we couldn't safely pull the drill pipe out of the well," said Anthony Young, CEO, Young Oil Corp.
"We tried to kill the well, so we could retrieve the drill pipe, but an attempt by a service company to pump 7,500 gallons of weighted fluid in the hole was unsuccessful. The well blew the fluid out of the hole."
"Because of safety concerns, we moved the drilling rig off the well, leaving the drill pipe in the well. We will produce the well through the drill pipe until it stabilizes," Young added.
"This well will be selling gas into the Delta Pipeline system near London, Kentucky, within the next week to ten days. We will produce it on a choke at a rate of about ten percent of its IP (initial production) of 6.9 million cubic feet of gas a day.
"This well is large enough to heat 6,000 typical American homes," Young noted. The average home uses about 1,000 cubic feet of gas per day.
All 20 successful gas wells, including the Elvis Farris #1, were drilled by DrillPro of London, KY. Young Oil Corporation owns 100% of the working interest in the wells.
"We have a large lease position in this area and plan to continue developing 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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