Bellatrix agrees to sell 50% stake in Alberta assets


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.

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