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August 19, 2014
09:14 EDTBXEOrange Capital to engage Bellatrix with recommendations on strategic alternative
Orange Capital intends to engage Bellatrix Exploration in discussions regarding opportunities to maximize shareholder value. Orange Capital intends to discuss Bellatrix hiring an independent financial advisor tasked to provide the board with recommendations on strategic alternatives, capital allocation and improved investor communications; the size and composition of the board; steps to raise the Bellatrix's valuation to be in line with its intrinsic value, which current valuation is well below the Issuer's intermediate sized company peers in the Canadian exploration and production sector; refraining from future dilutive equity issuances and outlining a clear use of proceeds for all newly raised capital; and exploring alternatives to highlight the value of the Issuer's infrastructure assets, including but not limited to improving disclosure on the cost and fair market value of the Issuer's midstream infrastructure and/or exploring a possible joint venture, initial public offering or sale of the Issuer's midstream assets. Orange Capital intends to discuss such matters identified above not only with Bellatrix management and the board, but also with other shareholders of the Issuer and third parties and may take other steps to bring about changes to increase shareholder value.
News For BXE From The Last 14 Days
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January 29, 2015
07:37 EDTBXEBellatrix Exploration cuts FY15 annual production by 8% to 43K-44K boe/d
As a result of the reduced capital spending plans, 2015 full year average annual production guidance is being reduced by 8% to approximately 43,000 to 44,000 boe/d from 47,000 to 48,000 boe/d, 67% natural gas weighted. The updated 2015 production guidance reflects annual growth of approximately 14% relative to estimated 2014 average daily production of 38,100 boe/d.
07:37 EDTBXEBellatrix Exploration cuts FY15 capital budget to $200M from $300M
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January 21, 2015
10:01 EDTBXEOn The Fly: Analyst Downgrade Summary
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06:21 EDTBXEBellatrix Exploration downgraded to Neutral from Outperform at Macquarie
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