Bellatrix agrees to sell 50% stake in Alberta assets

|About: Bellatrix Exploration Ltd (BXE)|By:, SA News Editor

Bellatrix Exploration (BXE +5.3%) enters a joint venture deal under which it will sell a 50% working interest in certain Alberta assets to Daewoo International and Devonian Natural Resources for C$52.5M.

BXE plans to use proceeds from the sale to reduce debt and ultimately direct them to the continued development of its Cardium and Mannville asset base.