WJTV News Channel 12 - City Of Natchez Receives Oil Well Funds

City Of Natchez Receives Oil Well Funds

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Natchez -

The City of Natchez has received $76,500 for its share of royalties from an oil well.
Mayor Butch Brown tells the Natchez Democrat that the check covers a period from December through May.
The city is expected to receive monthly royalty payments from the well.
The oil well was drilled by DRAYCO Exploration and was approved by the city in November 2011. It reported that it struck oil in October 2012.
The city owns three-sixteenths of the well.
Brown says the well's operators have slowed output of the well in an effort to make its production period longer. Brown says the city will likely receive about $12,000-$15,000 monthly from the well.
He says final details are being worked to drill a second well at the site.

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