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Bellatrix gets lender approval of increase to its credit facilities


Published Nov 27, 2014
Bellatrix Exploration Ltd.

Bellatrix Exploration Ltd. says that its syndicate of lenders, led by National Bank Financial as Sole Lead Arranger and Book Runner and National Bank of Canada as Administrative Agent, has approved, subject to completion of final documentation, an increase to the Company's borrowing base and credit facilities to $725 million from $625 million.

Based upon its semi-annual borrowing base review for November 30, 2014, this 16% increase of $100 million is the result of Bellatrix's strong 2014 drilling results during the first nine months of 2014, combined with benefits derived from its recently announced tuck-in acquisitions, cumulatively delivering significant reserves and production growth.

The increased credit facilities will be available to finance Bellatrix's ongoing capital expenditures, working capital requirements, and for general corporate purposes.

Tags: Bellatrix Exploration Ltd.




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