The acquisition includes upper zones in the Belly River and Edmonton Sands.
During the fourth quarter of 2014, the company invested approximately $7.0 million in the drilling and development of its newly acquired properties in Drayton Valley and Killam, targeting light oil from the Cardium and Belly River zones, and medium oil from the Lloydminster zone, respectively.
The capital program is concentrated on the Cardium, Monarch in southern Alberta and southeast Saskatchewan.
Through five separate transactions, Torc will add approximately 500 boepd (>85% light oil and liquids) in both its west central Alberta Cardium and southeast Saskatchewan core areas.
The company has a record current production rate of 7,400 boe/d.
Under the agreement, the company acquired 33% of the seller's interest in several thousand acres.
Grafton's increased capital investment will continue to support the accelerated development of a portion of Bellatrix's extensive undeveloped land holdings.
Average fourth quarter 2013 production was 45,521 boepd, essentially unchanged from third quarter of 2013, and was 4% lower than the fourth quarter of 2012.
Pursuant to the agreement forming the joint venture, Bellatrix and TCA will drill and develop lands in the Ferrier Cardium area of West Central Alberta, with the program to be completed by December 31, 2014.
Whitecap was very active in the field, drilling a total of 35 (27.0 net) wells in the third quarter of 2013 while spending approximately $65.5 million in development capital.