Triangle Petroleum is an exploration company focused on emerging Canadian shale gas projects covering 584,000 gross acres in the Maritimes Basin in Nova Scotia and New Brunswick. The company plans to aggressively exploit their shale gas assets based on their prior experience with other shale gas assets in the Barnett and Fayetteville shale gas areas.
Triangle’s first exploration well, N-14-A, was spud in July of 2008 and drilled to a depth of 8,500 feet. The well encountered Horton Bluff Shale at a depth of 3,600 feet and drilled through a total of 4,900 feet of shale and interbedded sands. Core samples were obtained at various depths and sent to labs in Houston and Calgary for analysis. The company owns a minimum 45% working interest in the well and is the operator.
Triangle’s second exploration well, O-61-C, was spud early this week. This well is located 14 miles west of the company’s first well and is located in a separate fault block. The planned total depth of this well is 9,900 feet. Triangle also owns a minimum 45% working interest in this well and is the operator.
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