Riverstone-backed CNOR commits $250 mln to Bellatrix Exploration
Oil and gas company Bellatrix Exploration Ltd (TSX, NYSE: BXE) has received a $250 million commitment from Canadian Non-Operated Resources Corp (CNOR). The commitment is part of a new multi-year joint venture arrangement with CNOR, which is managed by Grafton Asset Management. CNOR last month received a $675 million equity investment from a consortium led by U.S. private equity firm Riverstone Holdings. That deal was intended to facilitate collaborations with other energy businesses. Calgary-based Bellatrix, which will use funds to accelerate development of its Western Canadian land holdings, said with the latest commitment contributes to a total of $500 million secured in its long-term partnership with Grafton.
30 September 2014•4 mins read
