Oil, Gas, in West Virginia? If you study geological surveys you'll find that yes their is oil in certain regions of VA., KY., and WVA., but ask yourself a question why hasn't anyone got it before? I'll give you the answer simply put: ECONOMICS There is very, very little crude oil, and you're looking a mountains that have slopes that more than 20 30 degrees. Anyway I do know of a company in Harlan County that got the bright idea of drilling for oil. Thank god the guy was rich and continued to operate mining operations. He lost his rear end on the oil prospecting. I cant argue about the natural gas, yes there is a lot of it around, but believe me when I say these are small reserves. Union College in Barbourville, Ky drilled for gas a few years ago. They were successful, the well lasted about 6-8 years, thats it. It supplies the needs of the college, that's all. If I were being told that MTEI has gas reserves in Tennessee I'd feel a little better, however even in North East Tennessee the strikes are few and far between. When their is a strike it usually peters out within a few years. My mother in law owns one of the largest oil field reserves in Scott County Tennessee They are actively pumping, every day, day in day out for the last 15 years. Want to know how much she makes from it? about $100 or $200 per year. Thats not much. She also has natural gas on her property. Want to know what she get's for her gas wells? about $25.00 per year.
I've got to go to class, I'll respond to every post when I get back about 8:00 pm. Believe me. I would not tell you anything that wasn't true. I've had a number of years experience in gas, coal, oil, I've never seen a coal company that was successful in GAS OIL etc. If there was any oil in West Virginia don't you think Rockefeller would have got it? Didn't he own Standard Oil of Ohio, doesn't his family live in West Virginia? In fact isn't the senator from W.Va. John D Rockefeller's grandson or something. My point is, if there was oil in West Virginia, the Rockefeller's would have already been drilling
Regards, Got to Go
Lonnie |
