Young Oil Corp. Hits a 1,728- Barrel-a-Day Well in Tennessee

Young Oil Corporation has drilled in a new oil well in Tennessee that is possibly the largest discovery in the state. The well came in flowing oil at a rate of 1,728 barrels of oil a day.

KNOB LICK, KY (PRWEB) September 22, 2004 -- 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.

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