Drilling & Completions | Capital Markets | Drilling Activity
Bellatrix's Spirit River Wells Outperform; Borrowing Base Cut by $20MM
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Bellatrix Exploration reported an extension on its credit facilities as well as an ops update.
Drilling Update
Bellatrix completed its first half 2018 development drilling program in February, bringing 5 gross (5.0 net) operated Spirit River wells on-stream during the first quarter.
These wells continue to outperform expected results by approximately 35% on an IP60 basis, further demonstrating the high quality nature of Bellatrix’s asset base.
Credit Facility
The company's credit facility has been renewed and extended for an additional year, to May 30, 2019.
The borrowing base under the Credit Facilities has been confirmed at $100 million (previously $120 million), comprised of a $25 million operating facility and a $75 million syndicated facility (previously $95 million).
The next semi-annual redetermination is scheduled for November 2018.
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