RSE : Riverstone investment funds Bellatrix Exploration
Riverstone Energy has announced that Canadian Non-Operated Resources Corp (a Riverstone investment earlier this year) is funding half the cost of drilling, completion, equipping and tie-in capital expenditures associated with Bellatrix’s development plans to the tune of $250m ($40m of which is Riverstone’s).
Bellatrix has extensive acreage and is 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.
Riverstone say that, as at 30 September, they had committed $674m, or c55% of total capital raised, to nine energy companies.