North American Drilling's President and CEO, Larry Koonce, has announced finding crude oil after drilling almost a mile into the earth near the town of Veribest, TX.
Online PR News – 09-January-2011 – – The president and CEO of North American Drilling Corporation, Larry Koonce, has announced a new discovery of crude oil after drilling a well almost a mile into the earth near the town of Veribest, Texas, USA. The company is presently attempting to complete the well and place it into production for the crude oil market in the United States. Production rates are not yet available, but the company remains optimistic as initial testing revealed high concentrations of crude oil in the oil to water ratios and the added presence of natural gas. Once in production the company is planning on increasing the number of wells in the area with added new drills to expand and develop the large leasehold that it currrently holds. For more information about the company go to its website at: www.northamericandrillingcorp.com .