Bellatrix Exploration Ltd (BXE) - NYSE
  • Oct. 15, 2013, 3:56 PM
    • Bellatrix Exploration (BXE -4.1%) enters into a $240M joint venture partnership with TCA Energy to drill and develop lands in the Ferrier Cardium area of Alberta; TCA will contribute 50% towards the capital program for the drilling of an expected 63 gross wells, and in exchange will receive 35% of BXE's working interest.
    • BXE also agrees to acquire Canadian-based oil and gas explorer Angle Energy (ANGZF.PK) in a deal valued at ~$576M.
    • BXE plans to issue ~21.8M common shares on a bought deal basis at $8 each for total gross proceeds of ~$175M.
    • BXE shares halted.
    | Oct. 15, 2013, 3:56 PM
Company Description
Bellatrix Exploration Ltd. engages in the exploration for, and the acquisition, development and production of oil and natural gas reserves in the provinces of Alberta, British Columbia and Saskatchewan. The company was founded on November 1, 2009 and is headquartered in Calgary, Canada.
Industry: Oil & Gas Drilling & Exploration
Country: Canada