Granite Group Energy

Transaction Type
Sellers
Marketers
Post Date
Estimated Price
MM
Description

Granite Group Energy LLC has retained Sayer Energy Advisors and PLS Inc. to sell its interest in a 21,000-acre package of undeveloped mineral rights in the Popular West area of Roosevelt County, Montana.

The property is on the western flank of the Poplar Dome, a large structural feature on the Fort Peck Indian Reservation. Oil production was first established in the vicinity of the Poplar Dome in 1952. Since that time over 70 million barrels of oil has been produced from the area.

The primary prospect on the Poplar West property is the Bakken Formation, which is a thermally mature and oil-saturated source rock. The Bakken Formation which underlies the Fort Peck Indian Reservation is up to 100 feet thick. Local oil production from the Nisku Formation has been geochemically traced to the Bakken source.

The Granite Group leases, which were all taken out in 2010, have seven-year terms, expiring at various times in 2017. The company holds a 100% working interest in the leases, with a 78% net revenue interest. Annual lease rentals are $4 per acre.

The deadline for submitting cash bids is noon on Thursday, March 7. For further information please contact Alan Tambosso, president of Sayer Energy Advisors, at 403-266-6133.