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Black Gold begins drilling at the Fritz 2-30 well in the Illinois Basin

Black Gold Exploration (BGX) has announced the start of drilling at the Fritz 2-30 well in Clay County, Indiana, after acquiring a 10% working interest in the project.
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The drilling of the Fritz 2-30 well in the Illinois Basin has officially begun. Black Gold Exploration (BGX) announced on February 20, 2025, that the operations have started in Clay County, Indiana. BGX recently acquired a 10% working interest in this well, along with an option to participate in future developmental wells on a 210-acre area, in collaboration with operator Adler Energy, LLC.

The Fritz 2-30 well: a strategic project

The Fritz 2-30 well is located in an area that has already been explored, close to the Fritz 1 well, drilled almost 17 years ago. The Fritz 1 well identified both oil and gas pay horizons, but production was not initiated due to a drop in oil prices at that time. The Fritz 2-30 well is situated in the productive Terra Haute Reef Bank zone in southwestern Indiana, a region known for its hydrocarbon potential.

Advanced seismic evaluation for targeted exploration

The 3D seismic data over an 8 square mile area, gathered by Adler Energy, revealed oil pay horizons at varying depths. The Fritz 2-30 well is set to test a minimum of ten potential oil pay zones, including deep fractures visible in the seismic data, which could indicate migratory oil pathways into highly porous zones. Among the geological formations targeted are the Devonian, Trenton, St. Peter Sand, Black River, and Knox, all showing closures exceeding 100 feet, which may support large oil reservoirs.

The production potential of the Illinois Basin

The Illinois Basin, where the Fritz 2-30 well is located, has historically been an important oil-producing region, with annual yields ranging from 10 to 12 million barrels. Experts believe that the combination of this area’s potential and advanced drilling technology could provide BGX with opportunities for rapid production and short-term cash flow.

A long-term expansion strategy

Francisco Gulisano, CEO of BGX, emphasized the strategic importance of this project for the company, which plans to expand its footprint in the Illinois Basin in the long term. This drilling represents one of the most significant milestones for BGX as it seeks growth and profitability in the oil exploration sector in this region.

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