Heath Shale Oil
We have approximately 33,500 net acres in a joint venture in in central Montana targeting the Heath shale oil play, located in Musselshell, Petroleum, Garfield and Fergus Counties of Montana. We intend to monitor the extensive offset operator activity around this emerging shale oil play. The play is in the appraisal phase by other industry participants. We enjoy substantial primary lease terms, allowing us to monitor competitor drilling activity aimed at proving the play. In the Heath Shale play, Cirque Resources LP (partnered with Statoil), Fidelity Exploration and Production Company, Endeavour Exploration, LLC, Central Montana Resources LLC and True Oil LLC are the most active players around our acreage. We intend to monetize our Heath shale assets and deploy the capital to our operating program in the Williston Basin.