Indian tribes form energy company

Apr 24, 2009 02:00 AM

The Assiniboine and Sioux tribes of the Fort Peck Indian Reservation in north-eastern Montana signed an agreement with Native American Resource Partners (NARP), based in Salt Lake City, to create Fort Peck Energy Co.
The Bureau of Indian Affairs has yet to approve the arrangement. NARP, a private energy development firm, will provide business and financial expertise for Fort Peck Energy.

Fort Peck Reservation is in north-eastern Montana. John Jurrius of NARP said Fort Peck Energy will examine oil and gas opportunities in the Bakken formation of the Williston basin.
He expects the company will spend 6-9 months in planning stages, partially because of low commodity prices and high service costs.

Jurrius said Fort Peck Energy also will consider getting into wind power.
"We think the tribes of Montana have unique opportunities to pool their wind resources," Jurrius said.

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