|IBHD, LLC is a limited liability company formed in October 2012. It was started by the managers of Intrepid Petroleum Company, LLC and some of its members. Intrepid Petroleum is a successful business that has been developing a proven oilfield in Dewitt County.|
IBHD's mission is to rejuvinate proven oilfields in the Illinois Basin through the use of new technology such as horizontal drilling. We have established certain criteria for our prospects, such as zone thickness, porosity, permeability, remaining oil in place and uniformity in the target zone. We will be commencing our first horizontal well in Jasper County, Illinois in late 2015 or early 2016.
It is a matter of time until shale oil drilling begins in the Illinois Basin. When it does we should be well positioned to take advantage of it.