"It takes money to make money" is an all-time great cliché, but it happens to be very true in the energy sector, where acreage and wells both cost money. Triangle Petroleum (NYSEMKT:TPLM) hasn't been shy about spending money, whether it is to drill wells in its core Williston Basin acreage, build up its RockPile services business, or acquire additional acreage. Although I do have some concerns about the pace at which Triangle is adding debt and the real quality of recently acquired acreage (not to mention the ever-present risks that go with operating a still largely prospective energy company), I believe the shares are still undervalued to a meaningful degree.
Adding More Acreage, But You Get What You...
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