Young Oil Corp Makes Oil Discovery in Tennessee
Young Oil Corporation revealed that the Ralph Dishman #9Y, a field developmental well in Overton County, has been drilled in with an estimated IP (initial production) of 106 barrels of oil a day.
The well is located in the Young Oil Corporation's Dishman field, located in Section 24, Township 1S, Range 51E in Overton County, approximately 5 miles north of Livingston, Tennessee.
The total depth of the Dishman #9Y is 1100 feet. When drilling reached a depth of 1003 feet, it began blowing oil out with the cuttings. The well, scheduled to be put into production on pump later this week, will be producing from fractures in the Sunnybrook formation at 1003 to 1012 feet.
The Dishman #9Y offsets the Dishman #8Y, drilled in March 2003, which is producing 112 barrels of oil a day from the Stones River formation at 1260 feet.
Young Oil discovered the field in May 2000, when it drilled the Ralph Dishman #2 to a total depth of 1150 feet and encountered a collapsed formation in the Sunnybrook formation at 915 to 1030 feet.
"The bit drilled into the collapsed formation at a depth of 985 and then dropped 30 feet, indicating a virtual cave in the heart of the producing formation," explained Anthony Young, CEO, Young Oil Corp.
"We plan to have this well in full production within the next few days and then continue our development of this field. We fully expect to drill about 20 more wells on our existing leases in this field."
Young Oil Corporation and its partner, Ohio Kentucky Oil Corporation, have acquired about 2,000 acres of leases in the area and will develop the leases on a checkerboard agreement.
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