Triangle Petroleum Corporation (NYSEMKT:TPLM) announced its public offering of the common stock of 15 million equity shares


Dallas, Texas 09/04/2013 (Financialstrend) – It was recently announced by Triangle Petroleum Corporation (NYSEMKT:TPLM) that its public offering of the common stock of 15 million equity shares were priced at $6.25 per share, which was observed to be an approximate discount of 13 percent over the closing price of the stock on Thursday. Earlier in the first week of August 2013, the company had announced the acquisition of the core Williston Basin Properties through a definitive purchase agreement signed between the two parties. The company had further made an update to the earnings estimates for the second quarter and had revised its total budget for the next fiscal year 2014.

Triangle Petroleum Corporation (NYSEMKT:TPLM) is primarily engaged in the exploration and production of unconventional shale oil and natural gas from its reserve properties located in the Bakken Shale and Three Forks Formations in the Williston Basin of North Dakota and Montana. The primary petroleum development operations of the company are focused on the Bakken Oil projects and presently the company holds 83,000 net acres of reserve properties located in the two regions of its operations of North Dakota and Montana.

Shares of Triangle Petroleum Corporation (NYSEMKT:TPLM) gained on Tuesday to close at $7.05 per share, an increase of 6.02% over the previous close. The stock prices for the day traded in the range of $6.70 to $7.14 per share. For the past 52 weeks, the stock had presented low price at $4.85 and high price at $7.93 per share. The stock managed to pull in around 1.87 million trades on Tuesday, while the average level for the past 30 days of trading is at 1.00 million shares per day. There are presently 71.82 million outstanding shares for the company and the institutional ownership is at 47%.

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