Oil and gas firm Triangle Petroleum has acquired about 42,000 net acres prospective for the Bakken and Three Forks formations in the Williston Basin, US.
With this 42,000 net acre acquisition, called the Station Prospect, the company brings its total net acreage position in the Williston Basin to about 72,000 net acres and its total operated acres to about 51,000 net acres.
The Station Prospect is located in a thermally mature area of the basin and provides the company with a significant number of net drilling locations in a largely contiguous block.
Triangle Petroleum CEO Peter Hill said that the Station Prospect acquisition brings the company closer to its long-term goal of 100,000 net acres and a two-thirds operated and one-third non-operated leasehold position.
The company has identified approximately 5,000 net acres of operated acreage in the US state of North Dakota, and currently controls about 21,000 net non-operated acres in the state.