Bellatrix Pays $190M For Canadian Oil, Gas Joint Venture

Law360, New York (September 3, 2013, 4:14 PM EDT) -- Bellatrix Exploration Ltd. said Tuesday it has finalized two major deals with South Korea-based Daewoo International Corp. and a private equity fund, including the purchase of a $190 million oil- and gas-drilling joint venture in western Canada and its sale of a $50 million stake in certain production.

The company closed on a multiyear project with Canadian subsidiaries of Daewoo and Devonian Natural Resources Private Equity Fund to develop land in West Central Alberta, which includes 70 oil and gas wells, Bellatrix said. The project is...
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