Bellatrix closes $200MM JV, $53MM asset sale

摘要

Bellatrix Exploration Ltd. (NYSE: BXE) closed its asset sale and joint venture with the Canadian subsidiaries of Daewoo International Corp. and Devonian Natural Resources Private Equity Fund. Under the terms of the agreements, Bellatrix sold, effective July 1, an aggregate 50% of its working interest share of its producing assets, an operated compressor station and gathering system, and related land acreage in the Baptiste area of west-central Alberta for gross consideration of C$52.5 million. The sold assets are producing 268 BOE per day, 67% gas and 33% oil and liquids net to the sold assets, and include 3,858 net acres of Cardium rights and 1,119 net acres of Mannville rights.