Bellatrix Exploration Ltd (Canada) BXEFF

Energy

Bellatrix Exploration Ltd is a Canada-based oil and gas company, engaged in the exploration, acquisition, development, and production of oil and natural gas reserves in the provinces of Alberta, British Columbia, and Saskatchewan. It primarily focuses on developing its two core resource plays, the Cardium and the Notikewin/Falher intervals in Western Canada. The Notikewin/Falher in Alberta's deep basin boasts abundant, liquids-rich natural gas with compelling economics. The Cardium is a highly e

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Bellatrix Exploration Ltd (Canada)

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Post by Steelhead15on Jun 03, 2013 9:11am

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Post# 21474690

Buyout target

Sorry the JV didn't go through, but BXE now becomes a buyout target. So many derisked sections! I've owned BXE for awhile based on a buyout. Long-term growth underpinned the investment IMO. There are better shale plays in the US, but too costly a SP for obvious buyout (maybe KOG).

I'd guess it will happen fast. There is likely more than one buyer who will be interested and that will cause this to happen rather quickly. I know I'm guessing, but I've owned 7 Cardium plays over the last 5 years and 5 have been bought. Only 1 didn't get a premium price. BXE was my last top buyout target until D3 got hot.

With the K deal dead the uncertainty is now gone. Should be some good buys this week as the last momentum players move on.

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