IBJNews

Indianapolis firm seeks oil in north-central Indiana

Back to TopCommentsE-mailPrintBookmark and Share

An Indianapolis company searching for oil across the state hopes an Indiana oil field that once was the largest in the United States can be lucrative again.

CountryMark is taking its search to Cass County in hopes that new technology will be able to find oil in north-central Indiana, the Pharos-Tribune reported. The county is near the edge of the Trenton Oil Field, which once spread beneath a huge portion of east-central Indiana.

Rick Sumner of CountryMark said the field was discovered in the 1800s and produced several hundred million barrels of oil before being plugged in the 1920s. Oil companies have been targeting the field for more exploration in recent years.

Workers will use seismic sensors to collect data to create a kind of underground map. The map will show whether oil is present.

Work is expected to begin in about a month.

Countrymark operates a refinery in Mount Vernon and has other oil wells in Indiana, including one in eastern Vigo County near Terre Haute on property owned by the Hulman family, which owns the Indianapolis Motor Speedway. It acquired 600 wells in the Illinois basin in 2010.

 

ADVERTISEMENT

  • Countrymark
    DK - Oil/Gas is a comodity so the within a geographic region the price will always be relatively similar. If they charged significantly less everyone would go to them and they would run out, if they charged significantly more no one would buy the oil. The cost to produce, ship and refine the oil is different for all suppliers but they charge the same amount based on market forces.
  • Countrymark
    If Countrymark produces most of its' oil from the Midwest, why are their prices the same as companies that have to import their supply from the Middle East?

    Post a comment to this story

    COMMENTS POLICY
    We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
     
    You are legally responsible for what you post and your anonymity is not guaranteed.
     
    Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
     
    No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
     
    We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
     

    Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

    Sponsored by
    ADVERTISEMENT

    facebook - twitter on Facebook & Twitter

    Follow on TwitterFollow IBJ on Facebook:
    Follow on TwitterFollow IBJ's Tweets on these topics:
     
    Subscribe to IBJ
    1. why oh why does this state continue to elect these people....do you wonder how much was graft out of the 3.8 billion?

    2. i too think this is a great idea. I think the vision and need is there as well. But also agree with Wendy that there may be better location in our city to fulfill this vision and help grow the sports of hockey and figure skating in Indy. Also to help further develop other parts of the city that seem often forgotten. Any of the other 6 townships out side of the three northernmost could benefit greatly from a facility and a vision like this. For a vision that sounds philanthropic, the location is appears more about the money. Would really like to see it elsewhere, but still wish the development the best of luck, as we can always use more ice in the city. As for the Ice growth when they return, if schedules can be coordinated with the Fuel, what could be better than to have high level hockey available to go see every weekend of the season? Good luck with the development and the return of the Ice.

    3. How many parking spaces do they have at Ironworks? Will residents have reserved spaces or will they have to troll for a space among the people that are there at Ruth Chris & Sangiovese?

    4. You do not get speeding ticket first time you speed and this is not first time Mr.Page has speed. One act should not define a man and this one act won't. He got off with a slap on the wrist. I agree with judge no person was injured by his actions. The state was robbed of money by paying too much rent for a building and that money could have been used for social services. The Page family maybe "generous" with their money but for most part all of it is dirty money that he obtained for sources that are not on the upright. Page is the kind of lawyer that gives lawyers a bad name. He paid off this judge like he has many other tine and walked away. Does he still have his license. I believe so. Hire him to get you confiscated drug money back. He will. It will cost you.

    5. I remain amazed at the level of expertise of the average Internet Television Executive. Obviously they have all the answers and know the business inside and out.

    ADVERTISEMENT