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CS - IPC adds Alberta Bakken in $77MM acquisition of Granite Oil - January 2020

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International Petroleum Corp. is acquiring Granite Oil Corp. for $77.2 million in cash and debt. IPC, an offshoot of Sweden’s Lundin Petroleum, will acquire 100% WI in high-netback light oil-producing assets in the Alberta Bakken’s Milk River area southwest of its existing operations in the Suffield area, just north of the US border. Current production is 1,500 bo/d from an oil pool that extends over a 50-km fairway, and there are 2P reserves of......
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