The acquisitions are expected to increase the company’s total net acreage position to about 30,000 acres, and increase its total operated acres to approximately 7,000 net acres.
The company plans to participate in the drilling of over 75 gross wells, including its first operated well which is set to spud in late 2011.
Triangle is currently participating in the drilling or completion of nine gross wells and anticipates spudding an additional 10 gross wells in the next 30 days.
The company currently has an interest in 34 gross permitted wells that are expected to be spudded before year-end 2011.
