Operational Updates
Triangle Increases 2012 CapEx To Support Bakken Drilling Program
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Increased Capital Expenditure Budget
The fiscal year 2013 capex budget has been increased from $131 million to $173 million, primarily in support of the Triangle operated drilling program
Escalating acreage development with the addition of a full-time rig, taking the operated drilling program to 2 full-time rigs
Planned gross operated wells spud in FY2013 increasing from 15 to 20; planned gross operated wells completed unchanged at 15 wells; planned net non-operated wells completed decreasing from 3.5 to 1.75
Revised FY 2013 (February 1, 2012-January 31, 2013) capex budget is allocated as follows:
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