Corporate Strategy

Triangle’s strategy is dually focused on the acquisition and development of acreage in the North Dakota Bakken Shale oil play and the development and exploitation of its existing asset base in the Maritimes Basin of Nova Scotia, where it currently holds an 87% interest in approximately 474,000 gross acres. In North Dakota, the company is actively seeking to build on its current 10,000 net acreage position by acquiring additional leasehold interests throughout the Williston Basin. Technology advancements in drilling and completion techniques have unlocked the significant resource potential of the Bakken Shale, expanded the scope of the play, and increased the potential reserve additions and production profile of successful wells. Management is focused on capturing this resource for the benefit of Triangle shareholders at an attractive cost.

In Nova Scotia, Triangle has revitalized its exploration efforts and is taking a basin-wide approach to high grading its opportunity set. The objective is to identify the most attractive and lowest-risk targets for future exploration drilling. The success of Corridor and Apache Canada in New Brunswick, a structurally similar basin to Nova Scotia, as well as close proximity to take-away capacity and the attractively priced gas markets of the North Eastern United States, means Triangle shareholders have exposure to significant resource upside at a relatively low-cost. Management is currently evaluating several strategic options in the basin.