By Denver Business Journal

Triangle Petroleum Corp. said Monday itâ¿¿s formed a subsidiary, RockPile Energy Services LLC, that also will be based in Denver.

Denver-based Triangle Petroleum (NYSE: TPLM) said RockPile will provide pressure pumping and ancillary services in the Williston Basin of North Dakota and Montana. Triangle Petroleum is focusing its exploration efforts on the Bakken Shale and Three Forks formations in the Williston Basin.

The company has a 56 percent working interest in a North Dakota well targeting the Middle Bakken formation.

Curt Dacar was named chief operating officer of RockPile, which has received commitments for a $24 million offering of Series A preferred units. Triangle Petroleum subscribed for $20 million, giving it an 83 percent stake in the company.

In addition to general corporate purposes, proceeds from the offering will be used to buy equipment for a pressure pumping spread and to build a rail-based receiving terminal in North Dakota.

Copyright 2011 American City Business Journals

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