The KL-5 well, located about four miles northeast of Corbin in Knox County in mid central Kentucky, came in flowing natural gas when drilling topped the Big Lime formation at a depth of 1235 feet. "We expect to complete this new well and have it in production by mid March. "We believe the well will settle to about 750,000 cubic feet of gas per day," said Anthony Young, Young Oil CEO.
The well was drilled by DrillPro. Young Oil Corporation owns 100% of the working interest in the well.
"We have a large lease position surrounding this well with DrillPro and fully intend to drill several more wells in this field," 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.
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