Oil Industry News

Projects – Kentucky and Northern Tennessee (Pending Lease Acquisitions)

Kentucky Oil Prospect Development
Fossil Energy is expanding its areas of exploration and operation from Wyoming to Kentucky in order to create a more diversified portfolio of operations which will allow the company to exploit potential high yield low cost drilling and production opportunities.

Fossil Energy has added another member to its exploration and project development team that brings over 8 years of exploration and successful drilling project development as well as operation management in the states of Kentucky and Tennessee. During that time, Mr. Jackson drilled 17 consecutive dry holes, and then began to apply a state of the art technology to select his drilling locations. With the application of the technology as well as surface and well log geology, Mr. Jackson drilled and completed over 60 successful oil wells. 

The exploration program will take place in and around existing historical fields of oil production in Kentucky, and will include some areas that have not been extensively explored. The technologies that Fossil will be using are very well suited for the rugged terrain of the Appalachian basin in Kentucky.  Three technologies will be applied as the identified areas of interest are explored in more detail. Fossil is utilizing Airborne Audio Electromagnetics over a contiguous 5 county area in South Central / South Eastern Kentucky. This exploration tool not only can identify areas of hydrocarbon concentration, it can provide accurate depth information on where the hydrocarbons are located. In addition to this, surface confirmation work will be done to verify the airborne data. Surface radiometric surveys will be conducted, as well as geochemical analysis. These three exploration technologies will allow Fossil to minimize the risk of drilling dry holes, and will allow Fossil to drill in areas where the highest potential total production can be achieved.

Kentucky offers many advantages for a small to midsize oil company in that it has plentiful recoverable reserves in place, but has been overlooked in recent decades by larger companies due to the smaller size of the individual plays. According to the Kentucky Geological Survey, more than 750 million barrels of oil has been historically produced since the turn of the century, with an estimated 650 million barrels of proven and probable remaining in reserve for future development.

The economics of exploration, production and operation in Kentucky are quite favorable due to multiple pay zones that are all located above the 2500’ depth. On every well that will be drilled, the following pay zones have all been proven producers, and multiple pay zones can be completed and produced on a single well. The following zones are proven in the area that Fossil Energy will be drilling.

Typical initial production rates for these wells range in the 20 to 80 BBL/ day range, however many wells have been drilled in the past that produced 200-1500 BBL/day.

Formation                                           Depth
Granville                                             400’-600’
Sunnybrook                                       700’-800’
Stones River                                      900’-1000’
Coniferous                                         1100’-1400’
Murfeesboro                                     1500-1600’
Knox 1, 2, 3                                         2200’-2500’








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