Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Henderson | Lakes | McCracken | Webster

Madisonville Company Grows from Chinese Investors

David JacksonHOPKINS COUNTY, KY (1/26/12) – Madisonville Mayor, David Jackson, hosted a gathering Thursday morning to spotlight a growing Madisonville company, Navitas Land and Mineral. The company is an oil drilling company with office on Lantaff Blvd. in Madisonville.
 
The company will be doubling its payroll to $8 million this year up from $2.5 million in 2011. This growth is due in part to investments by two Chinese families. The families are in town, so Jackson took the opportunity to welcome the new investors and highlight the growing business.
 
“We welcome the direct and indirect employment they provide as well as their other investment and acquisition in excess of $9 million dollars into the Western Kentucky Community.” Jackson said.
 
Navitas was formed in 2009 and has acquired 3 significant leases and has optioned additional leases all in the Illinois Basin. The company will be developing the Oakley Field in Hopkins County Kentucky. Jackson said that Navitas is using Enhanced Oil Recovery methods and is one of the most advanced systems in the state of Kentucky.
 
Company owner, Dan Williams, said that the company injects liquid carbon dioxide (CO2) into wells. When the CO2 warms deep underground, it evaporates into gas and creates a high pressure state in the rock holding oil. The oil is displaced and collected. Some CO2 is collected with the oil and that gas is cooled and reused. Williams said that the process is used at depths in excess of 2,900 feet below the ground. Most of the CO2 remains underground. The CO2 is produced and collected at an ethanol plant in Hopkinsville and would otherwise be released into the atmosphere.
 
Williams said that the process is not regulated by the State of Kentucky but feels that the process is totally safe. He points out that CO2 is not flammable, explosive or toxic. He refers to the process as “Huff and Puff”. The company drilled 29 wells in 2011 using 2 drill rigs. For 2012, Williams estimates that the company will drill 50 wells using 4 rigs.
 
Attending the reception was Xiaohua Mao, investor and Government Liaison between China and the U.S. along with her son James F. Zhang; Long Zhang, investor and husband of Xiaohua; Rui Yang; Navitas Consultants – Brian Brick and Mark Michaud. Members of the Madisonville City Council as well as Hopkins County Judge Executive, Donnie Carroll were in attendance.
 

chinese mayor

Ron Sanders
SurfKY News

© Copyright 2014 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story by using one of the social media links below.

3/13 - 16
button coupons

Stock Report

1 DOW 18,053.71
+23.50 (0.13%)    
2 S&P 2,088.77
+6.89 (0.33%)    
3 NASDAQ 4,806.86
+33.39 (0.70%)    
3/13 - 16
3/13 - 16
button classifieds

In Other News...

New Free Community Class to Help 'Plan to be Tobacco Free'

CALLOWAY COUNTY, Ky. (12/26/14) — “Plan to Be Tobacco Free,” a free educational program, will be held at 11 a.m.… Read More

Muhlenberg County to Compete in Ashland Invitational

ASHLAND, Ky. (12/26/14) — After compiling a 1-2 record in the Graves County-hosted Eagle Holiday Classic, Muhlenberg… Read More
3/13 - 16

Most Read This Week

December 24, 2014 12177

Christmas Eve Bloody Brawl Erupts on Dulin Street

in Local (Hopkins) Top News by Doreen Dennis
December 25, 2014 8133

Gift Returns Done Right

in General News For All Sites by SurfKY News
December 25, 2014 5512

Arrests Made After Dulin Avenue Christmas Eve…

in Local (Hopkins) Top News by Officer C.P. Haynie
December 19, 2014 3995

Vehicle Fire Causes Traffic Back-Up on Pennyrile

in Local (Hopkins) Top News by Doreen Dennis
December 23, 2014 3979

Couple's Alleged Dispute over Blanket Leads to…

in Local (Hopkins) Top News by Madisonville Police Department
December 25, 2014 3729

Crime Stoppers Top Most Wanted - December 25, 2014

in Video by Crime Stoppers
December 23, 2014 3457

Alleged Theft at Walmart Sends Two to Jail

in Local (Hopkins) Top News by Madisonville Police Department
December 22, 2014 3446

Madisonville Police Arrest Reports - Dec. 22, 2014

in Hopkins News by Madisonville Police Department
December 20, 2014 3267

KET’s Kentucky Life Segment to Feature Old…

in Local (Muhlenberg) Top News by Paul McRee, SurfKY News
December 23, 2014 3044

Disturbance Results in Vehicle, Foot Pursuit,…

in Local (Hopkins) Top News by Officer Tyler Russell

Stories Trending Today

December 24, 2014 12177

Christmas Eve Bloody Brawl Erupts on Dulin Street

in Local (Hopkins) Top News by Doreen Dennis
December 25, 2014 8133

Gift Returns Done Right

in General News For All Sites by SurfKY News
December 25, 2014 5512

Arrests Made After Dulin Avenue Christmas Eve…

in Local (Hopkins) Top News by Officer C.P. Haynie
December 25, 2014 3729

Crime Stoppers Top Most Wanted - December 25, 2014

in Video by Crime Stoppers
December 26, 2014 1973

5-Year-Old Boy Kills Buck/Doe

in Local (Muhlenberg) Top News by Randy Adams
December 24, 2014 1330

Winter Superfoods for Optimal Health

in General News For All Sites by SurfKY News
December 24, 2014 1260

Jobless Rates down in 119 Counties in November…

in General News For All Sites by Kim Brannock
December 25, 2014 1239

How to Create Your Household Budget

in General News For All Sites by SurfKY News
December 26, 2014 1226

Grab the Best Buys This January

in General News For All Sites by SurfKY News
December 25, 2014 1216

SurfKY Spotlight: Hudson Service Center

in Video by Gary Gates, SurfKY News

SurfKY News Group, Inc.
Corporate Office & Studio
1125 Nebo Rd.  •  Madisonville, KY 42431
270.452.2727 (phone)
  •  270.452.2249 (fax)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social fbsocial twsocial yt
social gpsocial flrsocial rss