Exploration & Production | Government & Regulatory | Top Story
Lone Pine Eyes Long-Term Ops for Besa River Shale in Liard Basin
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Lone Pine Resources Inc. has detailed an update regarding its undeveloped land continuation efforts at Pointed Mountain in the Liard Basin.
In connection with its previously-announced land continuation efforts in the Pointed Mountain area of the Liard Basin in the Northwest Territories, and further to its receipt of a commercial discovery declaration from the National Energy Board for natural gas resources contained in the Upper and Lower Besa River shale intervals, Lone Pine has obtained 21-year lease renewals from the Minister of Aboriginal Affairs and Northern Development in accordance with section 62 of the Canada Oil and Gas Lease Regulations.
Lone Pine now holds a 100% operated working interest in approximately 53,000 acres at Pointed Mountain in the Liard Basin under leases with terms to 2033.
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