North Dakota’s Triangle Petroleum Files for Bankruptcy

Triangle Petroleum Corp., which has interests in North Dakota’s energy and commercial real-estate markets, filed for bankruptcy Wednesday with a reorganization plan under which bondholder J.P. Morgan Securities LLC will get all of the equity.

Triangle’s debt consists mostly of a $2 million secured term loan from JPMorgan Chase Bank NA and $167 million under a secured bond J.P. Morgan Securities bought from another investor.