Bellatrix closes $240 mln joint venture with South Korean PE fund
Calgary-based oil and gas company Bellatrix Exploration Ltd (TSX, NYSE MKT: BXE) has completed its $240 million joint venture partnership with Troika Resources Private Equity Fund. Based in Seoul, South Korea, Troika is managed by Korea Development Bank, SK Energy and Samchully Asset Management Co. The partnership vehicle, called TCA Energy Ltd, will contribute $120 million to the drilling and developing of lands in the Ferrier Cardium region of Alberta. Investment proceeds will also be used to reduce the company's indebtedness.
11 November 2013•4 mins read
