On March 17, 2018, about 1424 eastern daylight time, an experimental amateur-built Skybolt, N27265, was destroyed following a forced landing near Punta Gorda, Florida. The commercial pilot had minor injuries. The airplane was owned and operated by the pilot under the provisions of 14 Code of Federal Regulations part 91 as a personal flight. Day, visual meteorological conditions prevailed, and no flight plan was filed for local flight that originated at Punta Gorda Airport (PGD), Punta Gorda, Florida, about 1330.The pilot reported that the Lycoming O-360 series engine that was installed on the aerobatic biplane had just been overhauled and he was flying in the local area as part of a 10-hr break-in period. This was the first flight following the overhaul. The preflight inspection and ground operations were normal. There were no signs of oil leaks during the preflight inspection. About 35 minutes into the flight, oil appeared on both windscreens, blocking forward visibility. The windscreens eventually became completely covered with oil. He called tower personnel, alerting them to the problem and was cleared to land on runway 22. The engine lost power; however, it continued to run under partial power. Tower personnel reported smoke coming from the engine. Unable to make runway 22, he elected to land the airplane in a field. After landing, the airplane collided with a ditch and came to a stop. The engine caught fire and the pilot egressed the airplane. An inspector with the Federal Aviation Administration responded to the accident site and examined the wreckage. Fire consumed the entire airframe except for the outboard sections of the right wings. The engine was examined and a hole was observed in the top of the crankcase, adjacent to the no. 2 cylinder. Following the recovery of the wreckage, the engine was examined by an NTSB air safety investigator. The engine remained attached to the engine mount, and the engine mount was attached to the firewall. All sections and components of the engine were exposed to postcrash heat and fire. The oil filter was secure and the safety wire was installed and in place. All accessories on the aft section of the engine were fire-damaged. All surfaces were dry and no residual oil was present. All lines and hoses were burned or melted. The carburetor was separated from impact forces. A rectangular-shaped hole was evident on the top of the engine case, adjacent to the no. 2 cylinder. The area around the hole was dry and there was no residual oil observed. Visual examination inside the case hole revealed the no. 2 connecting rod was fractured at the crankshaft. There was no residual oil on the components; however, the entire area was exposed to postcrash heat and fire. The other connecting rods were attached to the crankshaft.