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Exclusive : Bankrupt E&P Scores $240 Million To Fund Operations
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According to court documents, bankrupt Triangle Petroleum has received court approval to enter into a new $250 MM credit facility with JP Morgan Chase once the company exits bankruptcy.
The attorney for Triangle petroleum stressed it had been looking for a lender to provide post bankruptcy capital access since October of last year.
About Triangle Petroleum:The company has 78,000 net ares in the Williston basin, where it is focused on developing the Bakken and Three Forks formation. The asset is 63% operated, with more than 573 gross drilling locations. Most of the company's activity is focused in western Williams County and Northern Mckenzie County.
Drilling Activity
The company spent most of 2016 completing previously drilled wells.
Area of Operation
Drilling Activity…
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