Triangle Petroleum Corporation announced  that Caliber Midstream Partners, L.P., its midstream joint venture with First Reserve's Energy Infrastructure Fund , has closed on a senior secured revolving credit facility in the amount of $200 million.

The credit facility is a $200 million senior secured leverage-based five-year revolving credit facility with an accordion feature of up to an additional $100 million. Citibank, N.A. acted as administrative agent, collateral agent, joint lead arranger and joint bookrunner; Wells Fargo Securities, LLC and Credit Suisse Securities (USA) LLC acted as joint lead arrangers, joint bookrunners and co-syndication agents; and Amegy Bank National Association acted as documentation agent.

Proceeds from the credit facility will be used for further expansion of Caliber's gathering system and for general corporate purposes. Caliber will not borrow under the credit facility before the entire $150 million of equity capital contributions from FREIF and the $30 million of equity capital contributions from Triangle have been funded. Neither Triangle nor FREIF acts as a guarantor under the credit facility. Caliber's availability under the credit facility is determined by total leverage and is expected to grow over time.

Triangle is a vertically integrated, growth oriented energy company with a strategic focus on developing the Bakken Shale and Three Forks formations in the Williston Basin of North Dakota and Montana.

Caliber is an independent, growth-oriented energy infrastructure company that provides a full suite of midstream services to producers in the Bakken and Three Forks shale oil plays. Caliber is focused on developing innovative, cost-effective and efficient solutions developed synergistically to handle a producer's molecules, not just their hydrocarbons.