About Granite Oil
Granite Oil Corp. is a junior oil producer based in Calgary, Alberta, that owns and operates a large Alberta Bakken oil pool in southern Alberta discovered by Granite (formerly DeeThree Exploration Ltd.) in 2012. On February 11th, 2020, Granite Oil was acquired by International Petroleum Corp.9 million.
Latest Granite Oil News
Mar 9, 2020
International Petroleum Corp. (IPC), a member of the Lundin Group of Companies, has wrapped up its previously announced $59 million acquisition of Granite Oil Corp, a Canadian oil and gas company engaged in light oil production in southern Alberta. Through the acquisition, International Petroleum Corp. gains access to total proved plus probable (2P) reserves of 14.0 million barrels of oil equivalent (MMboe) along with 6.2 MMboe of unrisked contingent resources, as of 31 December 2019. The deal was announced in January 2020. The current production from the acquired light oil producing assets in the Milk River area of Alberta is nearly 1,500 barrels of oil per day (bopd) with additional potential for light oil production and development upside. The assets are in close proximity to International Petroleum Corp.’s current area of operations in the southern part of Alberta. Granite Oil Corp’s assets include existing infrastructure to enable the current gas injection enhanced oil recovery (EOR) scheme, with the capacity to enable potential further field development opportunities. Also included in the assets are associated oil and gas processing and injection facilities located near key sales points. Lundin Group of Companies
Granite Oil Frequently Asked Questions (FAQ)
When was Granite Oil founded?
Granite Oil was founded in 2012.
Where is Granite Oil's headquarters?
Granite Oil's headquarters is located at 3230, 308 - 4th Avenue SW, Calgary.
What is Granite Oil's latest funding round?
Granite Oil's latest funding round is Acquired.
Who are the investors of Granite Oil?
Investors of Granite Oil include International Petroleum Corporation.