Triangle Petroleum Corporation (Triangle) is an exploration and production company focused on the development of unconventional shale oil and natural gas resources in the Bakken Shale and Three Forks formations in the Williston Basin of North Dakota and Montana. As of January 31, 2012, it owned approximately 83,000 net acres primarily in McKenzie and Williams Counties of North Dakota and Roosevelt and Sheridan Counties of Montana. Its proved oil and natural gas reserves, as of January 31, 2012, totaled 1,477,091 barrels of oil equivalent. During the fiscal year ended January 31, 2012 (fiscal 2012), its daily production averaged approximately 306 barrels of oil equivalent per day, with an average daily production, in January 2012, of approximately 530 barrels of oil equivalent per day from non-operated wells. As of March 31, 2012, i acquired approximately 83,000 net acres primarily in McKenzie and Williams Counties of North Dakota and Roosevelt and Sheridan Counties of Montana.