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Bellatrix Sells Non-Core Harmattan Asset for $80 Million

Transglobe Energy Corporation Bellatrix Exploration Ltd.
AnnouncedDec 5, 2016
TypeProperty
Announced Date
December 05,2016
Effective Date
December 01,2016
Close Date
December 20,2016
Transaction Type
Property
Enterprise Value (EV)($MM)
80




Snapshot
Asset/Basin:
{"Western Canadian Sedimentary Basin"}
Net Acres
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Net Operated Locations:
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Proved Reserves
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Location
Region
Canada

Country
Canada

Production & Reserves
Production
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Production Mix
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Reserves
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Calculated Metrics( EV/Category)
$/ Flowing
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$/ Acre
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$/Location
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Transaction Details:  Subscribe to see

Closing Announcement - December 21, 2016

Bellatrix has completed the previously announced sale of certain non-core assets in the greater Harmattan area of Alberta to TransGlobe Energy.

The Company received net cash proceeds of approximately $65 million , and made a $15 million vendor take back loan to the purchaser.

The net cash proceeds from the Harmattan asset sale were used to reduce the Company's outstanding bank debt.

Initial Announcement – December 5, 2016

Bellatrix Exploration has entered into an agreement with a TSX-listed issuer to sell certain non-core assets in the greater…


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