Native American Resource Partners Bring $100-million to Help Blood Tribe Develop Oil and Gas: B93.3 FM : Lethbridge's #1 Hit Music Station : Lethbridge News, Alberta
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Native American Resource Partners Bring $100-million to Help Blood Tribe Develop Oil and Gas

 
 

LETHBRIDGE: As the Blood Tribe starts to focus on oil and gas exploration on their land, they've brought in assistance.

In a partnership with the Native American Resource Partners they have created Kainai Energy, which will aim to fully capitalize on the Tribes oil and gas participation rights.

David Shade with Kainai Energy explained that the NARP will bring in technical and commercial oil and gas expertise, along with a $100-million capital commitment. Shade stated that the NARP has help tribes across North America to develop successful energy companies.

He explained that under the agreement, the Blood Tribe will not be at risk of losing any money, and they'll share the profits evenly with the NARP 50-50.

Shade commented that at the moment they haven't found much in the wells that have been drilled. However, he did note that it's important to have everything ready in advance, so they wouldn't have to play catch-up later.



Posted on Monday, April 04, 2011 at 4/17/2014 4:28:46 PM
Source: Patrick Burles-- Country 95 News
 
 
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