Triangle To Launch $180M Pipeline JV With First Reserve

Law360, New York (October 1, 2012, 8:03 PM EDT) -- Triangle Petroleum Corp. plans to create a joint venture with First Reserve Corp.'s Energy Infrastructure Fund to provide midstream pipeline services for oil, natural gas and water in North Dakota and Montana, the oil and gas exploration company said Monday.

The new venture, known as Caliber Midstream Partners LP, will design pipelines for transporting and processing oil, gas and water that will reduce costs and environmental impact, according to Triangle Petroleum, which said the deal won't impact its 2013 budget.

The exploration company will make an...
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