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COUNTRYMARK STRIKES OIL IN SOUTHWESTERN INDIANA
Mar. 1, 2011
Source: CountryMark news release
CountryMark today confirmed a significant oil find in Vigo County, near Terre Haute, Indiana. Their Hulman Farms #1 well appears to have discovered a new oil field in an area of historic oil production. This well has been tested for 21 days and is flowing approximately 400 barrels of oil per day through a choke, but if opened up it is capable of producing significantly more oil. Other partners in the Vigo County drilling project were Core Minerals Operating Company and Harris Energy Company, both of Evansville, Indiana.
"Securing American energy is CountryMark's top priority," said CountryMark President and CEO Charlie Smith. "Our strategy has been and will continue to be to invest in state-of-the-art oil exploration and drilling technology, which will sustain oil production in the Illinois Basin and provide a reliable supply of Midwest American crude oil to our refinery in Mt. Vernon, Indiana."
The Illinois Basin is an extremely dependable, secure supply of energy for Indiana and surrounding states. Approximately 35,000 barrels of crude oil are produced daily from this 53,000 square mile depression located underneath most of southern Illinois, western Indiana and western Kentucky.
Smith added that efforts like this, right here in Indiana, along with the drilling activities of the other producers in the area, are steps in the right direction for American energy security.
About CountryMark
CountryMark is a farmer-owned cooperative and is Indiana's only American-owned oil exploration, production, refining and marketing company. The CountryMark refinery is located in the southwest Indiana town of Mt. Vernon, Indiana, and was built in 1940. CountryMark refines 26,800 barrels of crude oil per day and is the largest buyer of crude oil in the Illinois Basin. CountryMark entered into oil exploration in 2008 and accelerated its efforts in 2010 with the acquisition of assets in the Illinois Basin and the hiring of 60 oil exploration and production professionals.
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