High gasoline prices are bad news for most of us, but there is a silver lining. A Levelland-based company, Home Creek Energy LLC, is making the most of high prices with a major oil-drilling project.
The Perry Ranch Multi-Well Production Project will be 117 wells in seven Texas counties. The locations go as far east as Baylor County and as far West as the western edge of Cochran County. It's a multimillion-dollar project with the goal of netting more than $1.15 million per month.
Some of the drilling will go more than 10,000 feet below the ground. A written statement from the company says the drilling techniques will include fracking, which has been used by the oil industry for decades but has recently become controversial. Experts, including one at Texas Tech, say fracking is safe when done properly.
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