Young Oil Corp. Hits a 1,728- Barrel-a-Day Well in Tennessee
The Young Oil Corporation announced here today that it has drilled in a new oil well in Tennessee that is flowing oil at a rate of 1,728 barrels of oil a day (BOD).The Lucy Newberry #11, located seven miles northeast of Livingston, Tennessee, in Section 22, Township 1S, Range 52E, began flowing oil when drilling reached the Trenton formation."The well came in so strong, we were unable to move the drilling rig off the hole," explained Anthony Young, CEO, Young Oil Corp. "We choked the well back and produced it at a rate of about 700 BOD through the blowout preventer on the drilling rig.""We wanted to get the drill pipe out of the well and move the rig off the well so we began open flowing the well through three flow lines into four tanks at a rate of 72 barrels an hour or 1,728 barrels of oil a day," he added.The Newberry #11 is the eighth producing oil well in the unnamed field discovered by Young earlier this year.
Other wells are producing in the field from the shallower Fort Payne formation and deeper Ordovician formation."We have an excellent lease position surrounding the Newberry lease and plan to develop it immediately to capitalize on these excellent oil prices," said Young.Young said he would start by drilling offset and step out locations to this new flowing oil well in the very near future.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 Anthony Young, Tennessee Oil Man of the Year in 1999..
Harvest Commodities LLC Provides Leadership in Crude Oil Market
At a crucial time in time in the crude oil market when supply is low, global demand is high, and prices are fluctuating wildly, buyers and sellers have just gained a new resource to help them negotiate their purchases more securely. Harvest Commodities International LLC is a recently launched global commodities consulting firm that specializes in the crude oil market.Company President Iasha Pickett says Harvest International makes trading less risky, more efficient and more profitable for both purchasers and suppliers.
She says the current market instability in supply and pricing makes it more crucial than ever for traders to get expert guidance before entering the market.
"One of the biggest problems in international commodities trading is knowing how to tell the serious buyers and sellers...
Oil prices > Harvest Commodities LLC Provides Leadership in Crude Oil Market
National Poll Reveals that Americans Feel Oil Companies Manufactured Current Energy Crisis
Clearwater, FL (ContentDesk) November 22, 2005 -- Scooop.net, a next generation media site based on democratic voting principles and active participation of its members, released the results of its weekly hot topic poll regarding the nations view on the relationship between oil companies and the recent oil crisis.
The level of distrust by the general public about the motivations of oil companies has reached a new low, and Scooop.net conducted its Hot Topic study to gauge the level of pubic discontent on the subject.When asked about whether the oil companies took advantage of recent bad news in the press, such as weather catastrophes, to improperly raise rates, 87.4% of Americans said yes, that they felt that oil companies used the bad news to raise rates.Deep suspicions by the public, about oil company complicity in keeping energy solutions under wraps and off the market, were revealed when 65.6% of those surveyed said alternative energy sources and discoveries are being...
Oil prices > National Poll Reveals that Americans Feel Oil Companies Manufactured Current Energy Crisis
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