Forbes Lake
Non-Operated Working Interest, Illinois
Non-Operated • ~21% Working Interest
Long-Producing Illinois Field
BGI Forbes Lake, LLC holds approximately a 21% working interest in an oil field beneath Forbes Lake State Park in Illinois. All wells were drilled directionally from locations off the park boundary to access a producing formation under the lake.
BGI has held its working interest in Forbes Lake since 2001 — among the company's earliest positions — and the field has produced over 4.58 million barrels of oil cumulatively across 14 wells. The field produces from multiple zones within the Illinois Basin, including the Geneva Dolomite, McClosky, Benoist, Salem, and Aux Vases formations.
2025 Highlight: Warren 1 Returns
Pictured above, Warren 1 is historically the field's most prolific producer, with over 2.29 million cumulative barrels. It went offline in mid-2024 due to a downhole casing failure. A successful workover in early 2025 brought it back online.
The well ramped from near-zero production in January 2025 to over 60 barrels per day by mid-year, producing 13,110 barrels in 2025.
Future Opportunity
Geneva Dolomite
Warren 1 alone has produced over 2.3 million barrels from the Geneva B zone. The Geneva A, which sits below, has not been produced near the active field area. There remains additional opportunity to drill at least one horizontal well in this venture.