A company with connections to the cryptocurrency industry is considering drilling for natural gas near the Deep River north of Sanford in Lee County, North Carolina.

If approved, the project would be the first commercial well drilled into the Triassic Basin, a natural gas repository underlying North Carolina and other Eastern Seaboard states.

Deep River Data, based in Alamance County, is interested in accessing gas from Butler Well No. 3, just south of U.S. Highway 421 near the Lee-Chatham county line, according to emails obtained under public records law.

Company adviser Dan Spuller, who is both a crypto entrepreneur and a natural gas landman, contacted the state Oil & Gas Commission in September about applying for a drilling unit, a parcel of land where drilling would occur. He said t

See Full Page