Black Gold in Missouri?

1 decade 11 months 4 hours ago Thursday, November 15 2007 Nov 15, 2007 Thursday, November 15, 2007 10:43:02 PM CST November 15, 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 and 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 5000 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
CALIFORNIA - A former employee in the Russellville and California school districts pleaded guilty Friday to having sexual contact with... More >>
1 hour ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 8:43:00 AM CDT October 16, 2018 in News
ST. LOUIS (AP) — Water levels on the Mississippi River are dropping north of St. Louis after high waters forced... More >>
1 hour ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 8:38:00 AM CDT October 16, 2018 in News
COLUMBIA - A man will spend the next nine years in prison after pleading guilty to a deadly November 2017... More >>
1 hour ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 8:37:36 AM CDT October 16, 2018 in News
JEFFERSON CITY - The Missouri State Treasurer’s Office put out a warning monday about a tax scam attempt. According... More >>
1 hour ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 8:12:00 AM CDT October 16, 2018 in News
ST. LOUIS (AP) — Authorities have charged a suburban St. Louis man with stabbing a woman 17 times after catching... More >>
1 hour ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 8:06:00 AM CDT October 16, 2018 in News
JEFFERSON CITY - The state Capitol building is set to receive interior upgrades after the Missouri Capitol Commission met with... More >>
2 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 7:38:00 AM CDT October 16, 2018 in Top Stories
ST. LOUIS (AP) — Authorities say a suspect in two deadly St. Louis shootings has been linked to a third.... More >>
2 hours ago Tuesday, October 16 2018 Oct 16, 2018 Tuesday, October 16, 2018 7:14:33 AM CDT October 16, 2018 in News
PANAMA CITY, Fla. (AP) — Joanne Garone Behnke has replayed every possible scenario in her mind a hundred times. ... More >>
13 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 8:44:00 PM CDT October 15, 2018 in News
COLUMBIA- Columbia Public School's out-of-school suspension rates for black students is double the rate of out-of-school suspensions given to white... More >>
13 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 8:06:00 PM CDT October 15, 2018 in News
(AP) - Two companies facing multiple lawsuits over a summer tourist boat accident in Missouri that killed 17 people have... More >>
14 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 7:24:00 PM CDT October 15, 2018 in News
(CNN) - A federal judge has dismissed adult film star Stormy Daniels' defamation lawsuit against President Donald Trump. Daniels... More >>
14 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 6:57:00 PM CDT October 15, 2018 in News
MEXICO - A Mexico teenager faces 27 counts of child sexual abuse. Probable cause documents allege 17-year-old Chandler Douse... More >>
15 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 6:39:00 PM CDT October 15, 2018 in News
COLUMBIA - The Columbia City Council is looking into a way to decrease oil and grease storage on city streets... More >>
15 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 6:35:00 PM CDT October 15, 2018 in News
FULTON - Two Columbia residents were taken into custody at a traffic stop Monday charged with the possession and distribution... More >>
16 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 5:27:00 PM CDT October 15, 2018 in News
COLUMBIA - The Columbia City Council is talking about building two roundabouts on Nifong Boulevard in an attempt to reduce... More >>
18 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 3:35:00 PM CDT October 15, 2018 in News
(CNN) - Former Senate Intelligence Committee staff member James Wolfe pleaded guilty Monday to one count of lying to the... More >>
18 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 3:31:00 PM CDT October 15, 2018 in News
COLUMBIA – A walkway outside of the Royal Inn off I-70 showed signs of structural damage Monday afternoon and guests... More >>
18 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 2:58:00 PM CDT October 15, 2018 in News
(CNN) - It's been five days since Hurricane Michael decimated Mexico Beach, and dozens of residents are still nowhere to... More >>
19 hours ago Monday, October 15 2018 Oct 15, 2018 Monday, October 15, 2018 2:30:00 PM CDT October 15, 2018 in News
Columbia, MO
Broken Clouds 34°
10am 45°
11am 49°
12pm 52°
1pm 55°