As a result, Bellatrix will consider alternative joint venture partners for the proposed Ferrier area Cardium joint venture as well as continuing to consider other joint venture partners for the company's other interests in the Cardium resource play.
Bellatrix Exploration Ltd. is a Western Canadian-based growth oriented oil and gas company engaged in the exploration for, and the acquisition, development and production of oil and natural gas reserves in the provinces of Alberta, British Columbia and Saskatchewan.
The results of the Q1 capital program, combined with planned activities for the remainder of the year have put the company on pace to drill 129 wells in 2013 and achieve a year-over-year average production growth of 8% to 12%.
Born in the U.S., the quest for oil and gas from shales, coal and tight sands now attracts operators in Canada and worldwide.
Bellatrix continues to focus on growth by development of its core Cardium and Notikewin/Falher assets utilizing its large inventory of geological prospects.
PetroBakken Energy Ltd. is an oil and gas exploration and production company combining light oil Bakken and Cardium resource plays with conventional light oil assets, delivering industry leading operating netbacks, strong cash flows and production growth.
RockBridge continues moving forward with its joint venture projects in the Violet Grove and Knopcik areas of Alberta.
. Approximately $18.75 million of the Transactions are scheduled to close before the end of October 2012 and the remainder are scheduled to close before the end of November 2012.
The wells were part of a 140 to 150 well program Husky plans to finish this year.
Horizontal drilling and multi-stage fracturing have remade Alberta’s Cardium play, and set it on a new growth trajectory.