Bellatrix Exploration Ltd. – Court Supervised Process


  • Valuable land position in the Greater Ferrier area
    • Over 200 sections in the heart of the Alberta Deep Basin
  • Low-cost production base
    • 36,000 boe/d of Q2 2019 production (29% liquids), including over 60 bbl/MMcf of natural gas liquids and condensates, and low $6.75/boe operating costs
  • Investable drilling inventory
    • Nearly 850 locations in the Spirit River, Cardium, Lower Mannville and other formations
  • Extensive reserve base with opportunity to grow 2P production to over 60,000 boe/d
    • Low 2018 FD&A costs of only $3.22/boe
  • Significant development control - Infrastructure in-place
    • High WI with excess capacity in three well-situated gas plants allows for immediate production growth
  • Leverage to commodity prices
    • Material operating income leverage to improved commodity prices, with an estimated annualized 2019 NOI of $80MM
  • Excellent LMR
    • High LMR of 8.31, indicative of well-managed asset retirement obligations, with minimal near-term abandonment obligations

If you have any questions or would like to execute a Confidentiality Agreement, please feel free to contact our team.