Bellatrix receives additional $100 mln in development capital from Grafton
Calgary-based oil and gas company Bellatrix Exploration Ltd. (TSX, NYSE MKT: BXE) announced that energy investment firm Grafton Energy Co I Ltd. has increased its capital commitment by $100 million to a $244 million joint venture aimed at developing a portion of the company's undeveloped land holdings. This announcement follows an August agreement whereby Bellatrix will sell a 50% interest in producing assets in the Baptiste area of Alberta for $52.5 million to South Korea's Daewoo International Corp., a subsidiary of POSCO, and Devonian Natural Resources Private Equity Fund.
12 September 2013•5 mins read
