Pumping Oil In Missouri

1 decade 7 months 4 weeks ago Friday, November 16 2007 Nov 16, 2007 Friday, November 16, 2007 4:44:13 PM CST November 16, 2007 in News

"Absolutely there's oil in Missouri," says Megawest Energy mining engineer Jim Long.

Long is a lifelong resident of Vernon County, living on a farm roughly one mile away from the Missouri-Kansas border. On his land, he and Megawest hope to drill 100 wells in the next year.

"This is inch by inch barrel by barrel out of the ground," says Megawest Energy CEO Bill Thornton. "It's going to be a challenge; an exciting challenge."

Engineers are working on 80 acres now, and hope to be pumping by February.

In the future, Megawest hopes to be drilling on 5,000 acres, yielding 10,000 barrels of oil per day.

Even though the oil wells in Missouri are not as deep in the ground, the thick, cold oil costs a little more to drill. But with the price of oil pushing $90 per barrel, Missourians could see a lot more drilling in the near future.

"There are two risks in the oil industry," explains Thornton. "Can you find the oil? And can you make money getting it out of the ground?"

Despite the risks, Long is optimistic.

"A wildcatter goes in on a hunch instead of sound geology," says Long.

Thornton shares Long's optimism, adding that Megawest considers itself a "pioneer."

"We're re-discovering heavy oil that nobody is paying attention to.  The large companies are chasing elephants in the North Sea, Gulf of Mexico, or Asia, and they've left this territory basically unattended," says Thornton.

More News

Grid
List
CALLAWAY COUNTY - Callaway County Sheriff's deputies will continue to patrol the Little Dixie Conservation Area Sunday night and into... More >>
8 hours ago Sunday, July 15 2018 Jul 15, 2018 Sunday, July 15, 2018 9:10:00 PM CDT July 15, 2018 in News
COLUMBIA- Ragtag Cinema showed the World Cup Final against France and Croatia Sunday on its movie screens free of charge.... More >>
10 hours ago Sunday, July 15 2018 Jul 15, 2018 Sunday, July 15, 2018 7:53:00 PM CDT July 15, 2018 in Continuous News
BOONE COUNTY - Two cities in Boone County have higher numbers of traffic stops involving minorities, according to an annual... More >>
11 hours ago Sunday, July 15 2018 Jul 15, 2018 Sunday, July 15, 2018 6:56:00 PM CDT July 15, 2018 in News
(CNN Money) -- Amazon has successfully invented a new shopping holiday, and it's set to capitalize on the rewards. ... More >>
12 hours ago Sunday, July 15 2018 Jul 15, 2018 Sunday, July 15, 2018 5:19:00 PM CDT July 15, 2018 in News
KANSAS CITY (AP) — Authorities shot and killed a man suspected of shooting three Kansas City police officers, a newspaper... More >>
16 hours ago Sunday, July 15 2018 Jul 15, 2018 Sunday, July 15, 2018 1:34:00 PM CDT July 15, 2018 in News
CHICAGO (AP) — Footage from body cameras and surveillance cameras shows that a man who was shot and killed by... More >>
18 hours ago Sunday, July 15 2018 Jul 15, 2018 Sunday, July 15, 2018 11:07:56 AM CDT July 15, 2018 in News
JEFFERSON CITY (AP) — A proposed ballot initiative aims to replace Missouri's system for drawing state legislative districts with a... More >>
19 hours ago Sunday, July 15 2018 Jul 15, 2018 Sunday, July 15, 2018 10:46:43 AM CDT July 15, 2018 in News
OMAHA, Neb. (AP) — The amount of water being released into the lower Missouri River will likely remain above normal... More >>
19 hours ago Sunday, July 15 2018 Jul 15, 2018 Sunday, July 15, 2018 10:27:00 AM CDT July 15, 2018 in News
MORGAN COUNTY - 37-year-old Brett Davidson of Clarksville, Tennessee was pronounced dead after drowning in the Lake of the Ozarks,... More >>
20 hours ago Sunday, July 15 2018 Jul 15, 2018 Sunday, July 15, 2018 9:53:00 AM CDT July 15, 2018 in News
COLUMBIA- Senator Claire McCaskill and Attorney General Josh Hawley both met with supporters and volunteers Saturday at each of their... More >>
1 day ago Saturday, July 14 2018 Jul 14, 2018 Saturday, July 14, 2018 10:43:00 PM CDT July 14, 2018 in Continuous News
JEFFERSON CITY - A 17-year-old from Jefferson City will be competing at the CrossFit Games in Madison, Wisconsin, in August.... More >>
1 day ago Saturday, July 14 2018 Jul 14, 2018 Saturday, July 14, 2018 6:50:00 PM CDT July 14, 2018 in Sports
COLUMBIA - House hunters are looking beyond Columbia due to a lack of middle-income housing in the city. Realtor... More >>
1 day ago Saturday, July 14 2018 Jul 14, 2018 Saturday, July 14, 2018 5:00:00 PM CDT July 14, 2018 in News
(CNN Money) -- Microsoft has helped innovate facial recognition software. Now it's urging the US government to enact regulation to... More >>
1 day ago Saturday, July 14 2018 Jul 14, 2018 Saturday, July 14, 2018 3:22:00 PM CDT July 14, 2018 in News
COLUMBIA — Seven cases of cyclosporiasis in Missouri may be linked to eating McDonald's salads, the Missouri Department of Health... More >>
1 day ago Saturday, July 14 2018 Jul 14, 2018 Saturday, July 14, 2018 2:33:00 PM CDT July 14, 2018 in News
PHILADELPHIA (AP) — The U.S. homeland security secretary said on Saturday there are no signs that Russia is targeting this... More >>
1 day ago Saturday, July 14 2018 Jul 14, 2018 Saturday, July 14, 2018 2:20:00 PM CDT July 14, 2018 in News
(CNN) -- A paragliding protester hovered within surprising proximity of President Donald Trump on Friday night as the president admired... More >>
1 day ago Saturday, July 14 2018 Jul 14, 2018 Saturday, July 14, 2018 1:38:05 PM CDT July 14, 2018 in News
ST. LOUIS (AP) — Some Missouri nurses will soon be able to take advantage of a pilot program that allows... More >>
1 day ago Saturday, July 14 2018 Jul 14, 2018 Saturday, July 14, 2018 11:00:00 AM CDT July 14, 2018 in News
(CNN) -- If movie-streaming seems like Goliath, Blockbuster video store owners are an industry's Davids still fighting to keep the... More >>
1 day ago Saturday, July 14 2018 Jul 14, 2018 Saturday, July 14, 2018 8:29:00 AM CDT July 14, 2018 in News
Columbia, MO
Broken Clouds 73°
6am 73°
7am 74°
8am 78°
9am 82°