Bellatrix Announces Closing of Grafton Acquisition
November 05 2018 - 3:30PM
Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX,
NYSE: BXE) announces that it has closed the previously announced
acquisition of the remaining assets earned by Grafton Energy Co I
Ltd. under the joint venture arrangement entered into in 2013. The
acquired assets are located in Bellatrix’s core Ferrier area of
west central Alberta and include approximately 2,200 boe/d (79%
natural gas, 21% liquids) of low decline production. The
acquisition was funded through a combination of $7.66 million in
cash and 4.0 million common shares of Bellatrix, and had an
effective date of August 1, 2018.
Bellatrix Exploration Ltd. is a publicly traded
Western Canadian based growth oriented oil and gas company engaged
in the exploration for, and the acquisition, development and
production of oil and natural gas reserves, with highly
concentrated operations in west central Alberta, principally
focused on profitable development of the Spirit River liquids rich
natural gas play.
For further information, please contact:
Steve Toth, CFA, Vice President, Investor
Relations & Corporate Development (403) 750-1270
Bellatrix Exploration Ltd.1920,
800 – 5th Avenue SWCalgary, Alberta, Canada T2P 3T6Phone: (403)
266-8670Fax: (403) 264-8163www.bxe.com