The Williston Basin is a large sedimentary basin situated along the edge of the Rocky Mountains in Western North Dakota, Eastern Montana, and South Saskatchewan. The basin is characterized by thick sequences of sediments that underlie an area of more than 285,000 square kilometers (110,000 square miles). Light to medium crude oil is produced in the area, along with dry and sweet natural gas—meaning that it is low in liquid hydrocarbons (dry) and low in sulfur (sweet) and needs limited proessing.
The acreage, leased for a 5-year period, carries with it the P&NG rights and drilling rights to surface and basement. Lions plans to carry out 2-D and 3-D seismic on the property to delineate primary oil and gas drill targets.
Primary gas targets will include the Milk River formation at 500-1,000 feet; 1st and 2nd White Peckled Shale at 1,500-2,500 feet; and the Viking Sands at 3,000 to 5,000 feet.
Primary oil targets will include the Mission Canyon & McGowan formations at 5,000 to 8,000 feet and the Devonian Age Baaken & Nisku formations at 7,000 to 9,000 feet.
Lions is a Delaware corporation that has oil and gas leases in Northern Alberta and the Williston Basin in South Saskatchewan. The company has also signed an agreement to participate in a Texas gas project. It is seeking additional projects throughout North America.
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