Missouri Oil

1 decade 11 months 2 days ago Saturday, November 17 2007 Nov 17, 2007 Saturday, November 17, 2007 9:43:03 PM CST November 17, 2007 in News

"To make this work is 95 percent skill and 5 percent luck," Megawest engineer Jim Long said.

Long is a longtime resident of Vernon County. He owns the farm there and said he hopes to drill 100 wells in the next year.

This is turning heads within the community. People are starting to wonder about interest or competition.

"There are two risks in the oil industry can you find the oil and can you make money getting it out of the ground," Thorton said.

According to Megawest, Missouri oil does cost a little bit more to get out of the ground, and is thick and cold. The oil is also not very deep in the ground.

Missourians could see a lot more old fashioned drilling.

"We consider ourselves pioneers. We're rediscovering 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," Thorton said.

Megawest said they hope to be pumping oil by February. Engineers are working on 8- acres now. The ultimate goal is 5,000 acres a year with a return of 10,000 barrels of oil per day.

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