Triangle Pete Forms Venture with Oppenheimer Global Resource Private Equity Fund

Oil and gas explorer and producer Triangle Petroleum Corp. formed a joint venture with Oppenheimer Global Resource Private Equity Fund I and a related co-investment fund (OGR). Both funds are managed by an affiliate of New York-based Oppenheimer & Co. Inc. OGR made a $25 million commitment to co-invest with Triangle for asset acquisition and development in the North Dakota Bakken Shale play. OGR received a right to participate in up to 25 percent of Triangle activity in the Williston Basin.

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