An unknown buyer has signed a letter of intent to acquire 60% working interests in non-core and non-Bakken assets from Granite Oil Corp. (TSX:GXO) for CAD 2 million on November 9, 2017. As per announcement made on December 18, 2018, Granite’s previously announced intent to sell a 60% working interest in non-core and non-Bakken assets has been adjusted to sell a higher working interest while still maintaining operatorship of this asset for an increase to the disposition price. The transaction is expected to close in the first quarter of 2018. Proceeds from sale of assets will be used for a non-permanent repayment of indebtedness under Granite’s existing credit facility. An unknown buyer cancelled the acquisition of 60% working interests in non-core and non-Bakken assets from Granite Oil Corp. (TSX:GXO) on November 9, 2018.