MADISONVILLE, Ky.--(BUSINESS WIRE)--Navitas Land and Mineral Corporation, an oil and gas production firm, recently completed drilling, cementing and casing a 7008 foot oil well in Poole, Kentucky. According to the Kentucky Geological Survey, the Otho Babb #2 is the deepest oil well ever drilled in Webster County with producible oil. Deeper wells previously drilled were dry and abandoned.
“As one of the most aggressive oil and gas production companies in the Illinois Basin, we’re excited about the production potential of the Otho Babb #2,” said company president and CEO Dan Williams. “We were so encouraged by our findings that we immediately drilled five other oil wells nearby with permits to drill to 4000 feet. One of the wells, the Pruitt #4, is already producing oil."
Navitas reached total depth on the Otho Babb #2 on April 29, 2013 after weeks of drilling day and night in less than favorable weather conditions. Upon completion of drilling, the well log recorded 17 hydrocarbon shows of both oil and gas pulling from multiple formations. Four hydrocarbon shows above 4000 feet are known to be producible, and multiple shows below 4000 feet look promising. The Otho Babb #2 is awaiting completion pending rig availability later this week.
Navitas Land and Mineral Corporation is an oil and gas exploration, development and production firm founded in 2009. The company draws on an internationally recognized team of geologists, engineers and executives with extensive oil and gas exploration and production experience, combined with corporate and financial expertise. Navitas acquires oil and gas assets of merit and develops them to their full potential, applying conventional drilling and enhancement methods as well as low-cost, non-conventional processes to dramatically improve oil and gas recovery. The company’s recovery efforts are focused on the Illinois Basin, an area encompassing Southern Illinois, Southwestern Indiana, and Western Kentucky.