Black Gold, Arkansas Tea
by June 29, 1998 12:00 am 126 views
A Canadian oil company will begin drilling soon on a well in western Arkansas in the famed Arkoma Basin.
The company, Hegco Canada Inc., recently received the funding necessary to complete the El Grande well through the exercise of previously issued warrants.
The Alberta-based company believes that the well contains as much as $180 million worth of oil and will employ about 20 people to drill it. The company started drilling the site in the early 1980s.