SUBSCRIBE
PROFILE

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.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90$/month

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99$/year

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Sign up for free to unlock this article

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.

  • Popular on energynews.pro
Ecoener commissions Guatemala’s largest solar plant with 74.7 MWp
NextDecade signs 20-year LNG deal with EQT for 1.5 MTPA from Train 5
Italy seeks energy guarantees in potential sale of IP to SOCAR
Orsted sues Trump administration over halt of Revolution Wind project
Tenergie begins construction of 5.14 MWp solar plant in Cabrières d’Avignon
Russia increases oil exports from western ports by 11% in September
Russia plans to ship 2.1 million barrels per day from its western ports in September, revising exports upward amid lower domestic demand following drone attacks on key refineries.
QatarEnergy secures offshore exploration licence in Congo
QatarEnergy obtained a 35% stake in the Nzombo block, located in deep waters off Congo, under a production sharing contract signed with the Congolese government.
Phillips 66 takes full control of two US refineries for $1.4bn
Phillips 66 acquires Cenovus Energy’s remaining 50% in WRB Refining, strengthening its US market position with two major sites totalling 495,000 barrels per day.
Union strike threatens fuel deliveries from Dangote refinery
Nigeria’s two main oil unions have halted loadings at the Dangote refinery, contesting the rollout of a private logistics fleet that could reshape the sector’s balance.
ReconAfrica secures offshore block in Gabon with production sharing contract
Reconnaissance Energy Africa Ltd. enters Gabonese offshore with a strategic contract on the Ngulu block, expanding its portfolio with immediate production potential and long-term development opportunities.
BW Energy raises $365mn for Maromba FPSO and secures drilling rig
BW Energy has finalised a $365mn financing for the conversion of the Maromba FPSO offshore Brazil and signed a short-term lease for a drilling rig with Minsheng Financial Leasing.
Vantage Drilling signs 260-day contract for the Platinum Explorer
Vantage Drilling has finalised a major commercial agreement for the deployment of the Platinum Explorer, with a 260-day offshore mission starting in Q1 2026.
Permex signs agreement for potential $25mn funding with Chisos
Permex Petroleum has signed a non-binding memorandum of understanding with Chisos Ltd. for potential funding of up to $25mn to develop its oil assets in the Permian Basin.
OPEC+ approves 137,000 barrels/day increase starting in October
OPEC+ begins a new phase of gradual production increases, starting to lift 1.65 million barrels/day of voluntary cuts after the early conclusion of a 2.2 million barrels/day phaseout.
Imperial Petroleum invests in seven vessels despite a 22.8% drop in revenue
Imperial Petroleum expanded its fleet to 19 vessels in the second quarter of 2025, while reporting a decline in revenue due to lower rates in the maritime oil market.
OPEC+ prepares for decisive debate on quotas amid surplus risk
Eight OPEC+ members will meet to adjust their quotas as forecasts point to a global surplus of 3 million barrels per day by year-end.
Greek shipowners cut Russian crude links under new compliance rules
Greek shipping companies are gradually withdrawing from transporting Russian crude as the European Union tightens compliance conditions on price caps.
Transneft strategic site targeted in Russia strike
A key station on the Stalnoy Kon pipeline, essential for transporting petroleum products between Belarus and Russia, was targeted in a drone strike carried out by Ukrainian forces in Bryansk Oblast.
Iraq in talks with ExxonMobil for refining capacities in Asia
SOMO is negotiating with ExxonMobil to secure storage and refining access in Singapore, aiming to strengthen Iraq’s position in expanding Asian markets.
European Union redefines import rules for UK oil and gas
The European Union’s new import standard forces the United Kingdom to make major adjustments to its oil and gas exports, impacting competitiveness and trade flows between the two markets.
UK prepares new oil tax regime to revive UKCS competitiveness
The United Kingdom is set to replace the Energy Profits Levy with a new fiscal mechanism, caught between fairness and simplicity, as the British Continental Shelf continues to decline.
Dangote refinery forced to suspend gasoline production for several weeks
The Dangote complex has halted its main gasoline unit for an estimated two to three months, disrupting its initial exports to the United States.
Oil flow via Druzhba to Germany restored after drone strike
Rosneft Germany announces the resumption of oil deliveries to the PCK refinery, following repairs to the Druzhba pipeline hit by a drone strike in Russia that disrupted Kazakh supply.
CNOOC starts Wenchang 16-2 oilfield project to strengthen investments
CNOOC has launched production at the Wenchang 16-2 field in the South China Sea, supported by 15 development wells and targeting a plateau of 11,200 barrels of oil equivalent per day by 2027.
Viridien and TGS launch 5,300 km² 3D seismic survey offshore Brazil
Viridien and TGS have started a new 3D multi-client seismic survey in Brazil’s Barreirinhas Basin, an offshore zone still unexplored but viewed as strategic for oil exploration.

Log in to read this article

You'll also have access to a selection of our best content.