Triangle will pay about $120 million for the acreage, which covers a contiguous area of Williams County in North Dakota and Sheridan County in Montana, and currently produces about 1175 barrels of oil equivalent per day.
The total payment includes the sale of a saltwater disposal well that was part of one of the acreage packages.
Triangle said it had received bank commitments for 100% financing of the acquisitions, including a new senior secured second lien term loan facility.
It
