Black Gold Exploration Corp. (BGX) and LGX Energy Corp. (LGX) announced that drilling at the Fritz 2-30 oil and gas well in Indiana found multiple pay zones in the Carper Sand and Devonian formations. (Source: Shutterstock)
Black Gold Exploration Corp. (BGX) and LGX Energy Corp. (LGX) announced that drilling at the Fritz 2-30 oil and gas well in Clay County, Indiana, found multiple pay zones in the Carper Sand and Devonian formations.
BGX holds a 10% working interest in the well and holds an option to participate in offset development within a 210-acre area of mutual interest with LGX.
Clay County is in west-central Indiana, between Terre Haute and Indianapolis.
The drill program showed that the well can be completed and turned into a producing well within the next 30 to 60 days and the horizons are above 1,900 ft of total depth.
The initial results show potential for several more offset wells, the companies said.
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