Video: Caledonia in Search of Oil
CALEDONIA, Miss. (WCBI) – The community of Caledonia has been a hotbed for natural gas since the 1970’s. Two decades ago when natural gas fields began to run dry production shifted to storage.
Spurred by new technology the hunt for black gold or crude oil may be in the towns future. With prices for a barrel of oil holding steady between $85 to$110 exploration is on the rise.
Last week alderman approved a three year lease to Foster Kennedy of Southwest Energy INC. for the mineral rights on a section of land behind the shop and save grocery store.