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Indy-based cooperative strikes oil at Terre Haute well

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An Indianapolis-based farmer-owned oil cooperative says it has made a "significant" oil find at a well site in western Indiana.

CountryMark says the well in eastern Vigo County near Terre Haute is producing about 400 barrels of oil a day and could produce more if opened wider.

The property is owned by the Hulman family, which owns the Indianapolis Motor Speedway, according to WTHI-TV of Terre Haute.

The Tribune-Star of Terre Haute said CountryMark says it is seeking to provide a reliable supply of Midwestern crude for its refinery in southern Indiana's Mount Vernon.

According to a May 2010 IBJ story, CountryMark employs 350 workers, mostly at its Mount Vernon refinery. The company has about 20 workers at its Indianapolis headquarters at 225 S. East St.

The well is part of the Illinois Basin, which rests beneath southern Illinois, western Indiana and western Kentucky and which CountryMark says produces about 35,000 barrels of oil a day.

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  1. Yes sir keep cashing those 300K a year checks direct to IMS, while millions disappear from the teams like Rahal's. Guess there wasn't enough ka- ching going around to keep Sarah Fisher in business without their "merger". LOL._____.Meanwhile back in Realville the series with the "best racing in the world" drew what appeared to be about 5000 live spectators ( and probably 1500 of those Target "freebies", and was beaten in the ratings by a series that reportedly consists of "parades" and aired while most people are still sleeping. That will generate those big ka-chings for sure. :-). But, hey, as long as the Speedway gets the cash who gives a damn about the teams?

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