Triangle Petroleum Corp. recently announced the purchase of 4,000 net acres in the Willison Basin that is prospective for the Bakken Shale. The acreage is located in Williams and McKenzie counties in North Dakota.
The Bakken Shale is an unconventional resource play that is currently being developed by the exploration and production industry. The industry is targeting the Middle Bakken and Sanish/Three Forks formations in this play.
Dr. Peter Hill, the CEO of Triangle Petroleum Corporation, said, “The Bakken Shale will be our new core area of operations in the United States. Our efforts here are the result of years of work undertaken prior to my joining Triangle this past November. The focus has been on understanding the geology and science of the play, and the capacity of applied technology to unlock the significant oil and gas reserve potential.”
Triangle Petroleum Corporation is partnering with Slawson Exploration, a private oil and gas company, to develop its acreage in the Bakken Shale. Triangle Petroleum Corporation will also continue to look for acquisition areas in the Bakken Shale.
The entry into the Bakken Shale represents a new direction for the company, which also owns 413,000 net acres in the Windsor Block of Nova Scotia.