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Triangle Petroleum's CEO Discusses F2Q 2013 Results - Earnings Call Transcript

We initiated in the quarter 1,000 barrels a day of hedges for the balance of this year. So costs of color with a floor of approximately $81 and a ceiling of $102 or $103. We also put in 500 barrels a day for the balance of 2013 and 2014 with a similar band.

Regarding our philosophy on hedging on a go forward basis, we are very, very comfortable in the 80/100 range. We would like to increase our hedges and you should definitely expect more from us.

Regarding RockPile, this was RockPile’s first quarter of operations, they started up with surprisingly very, very wider, and any start-up operation you can imagine there was going to be some bumps in the road and we really avoided those and the teams did a fantastic job. We completed two wells in the quarter and are fully functional and going today they are zipper-fracking two wells for us in Williams County. We have an additional three wells in McKenzie County that are waiting on completion.

Read the rest of this transcript for free on seekingalpha.com

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