subscribesubscriber servicescontact usabout ussite mapBuy a Classified
Fri, Jan 09 2009 
Breaking News:  Illinois House impeaches Gov. Rod Blagojevich  January 09, 2009 11:35 am

Published July 07, 2008 08:02 am - FORT WAYNE, Ind. — Record oil prices are spurring some companies to look for oil in Indiana.


8 a.m.: Prices trigger oil exploration in Indiana



FORT WAYNE, Ind. — Record oil prices are spurring some companies to look for oil in Indiana.

Deka Exploration — an Oklahoma-based company that drilled for oil in Steuben County a decade ago before deciding to go elsewhere — is giving northwest Indiana another look. Others are also exploring for oil.

Indiana permit applications for oil and natural gas wells have increased to levels not seen in at least 20 years, according to the Indiana Department of Natural Resources’ oil and gas division.

Improved technology has led to more accuracy in drilling. But the main motivation for the increased exploration is rising oil prices, said Herschel McDivitt, director of the Indiana Department of Natural Resources Division of Oil and Gas.

“They tend to make operators a little more willing to take some risks,” he said.

Indiana production of crude oil has averaged about 1.73 million barrels annually in recent years. That’s a small portion of consumption — the U.S. uses more than 20.6 million barrels of petroleum every day.



print this story    email this story    comment on this story   

Click to discuss this story with other readers on our forums.

Click here to load this Caspio Bridge DataPage.
Click here to load this Caspio Bridge DataPage.




monster
autoconx
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide





Premier Guide
Find a job! Find a Home! Find a car!


 

Community Newspaper Holdings, Inc.CNHI Classified Advertising NetworkCNHI News Service
Associated Press content © 2008. All rights reserved. AP content may not be published, broadcast, rewritten or redistributed.
Our site is powered by Zope and our Internet Yellow Pages site is powered by PremierGuide.
Some parts of our site may require you to download the Flash Player Plugin.
View our Privacy Policy
Advertiser index