Ferguson Upper Bakken Overview
The Upper Bakken or "Alberta Bakken" pool at Ferguson in southern Alberta is Granite’s core asset. In 2012, Granite (formerly DeeThree Exploration Ltd.) drilled the discovery wells that established the Upper Bakken as a commercial oil reservoir in Alberta. Since that time, the main producing pool has produced over 6.0 million barrels of crude oil, and has achieved production rates in excess of 4,000 barrels of oil per day.
Granite's Alberta Bakken oil pool stretches over a 30-mile fairway, and produces medium-gravity (30-32° API), high-quality crude oil. The pool was discovered in 2012 and in 2013 the Company established a gas injection enhanced oil recovery (EOR) scheme in the core producing pool. That pilot project has since expanded to a full-scale, highly successful EOR program, the approval area for which covers the bulk of the core producing area. Granite’s operational focus at Ferguson is on extending the core pool area’s EOR program to create high-value, long-life, low-decline production and drilling highly capital-efficient wells that will return value to shareholders for years to come.