Adventure Energy Inc. is an energy exploration company operating in the Appalachian Basin, seeking out mature long-lived oil and natural gas properties for further development. The company today announced it has started its drilling program on the JL Blaydes leasehold in Metcalfe County, Ken., and will continue drilling throughout the upcoming week.
The company estimates the depth of drilling to be 1,800 feet, and will allow it to test the Knox Formation. The four remaining wells on the site have been prepared as well, and are ready for initial drilling.
Wayne Anderson, president of Adventure Energy, said the commencement is a monumental mark for the company as it continues to fulfill expansion and growth efforts.
“The initiation of the drilling program truly marks a milestone for Adventure and the Company’s shareholders,” Anderson said in the press release. “I believe that the wells drilled under this current program will mark the cornerstone of our company’s future growth in this region while establishing a foundation for revenue for the company.”
The company also updated its shareholders regarding its Larry Hardin #1 well, which it holds a 40 percent interest in. The company said the well, which is in now in production, reached total depth of 404 feet. The company anticipates the first sale of production this month.