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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (68679)	10/3/2019 7:59:12 AM
From: Goose94	Respond to of 203763

Bellatrix Exploration (BXE-T) an energy producer once worth nearly $2-billion, has filed for court protection as it seeks a buyer or new investor against a backdrop of depressed natural-gas prices. Bellatrix is seeking protection from creditors to provide stability while it considers strategic alternatives, which could include a sale, refinancing or recapitalization. The company completed a financial restructuring four months ago, but its shares have tumbled 81 per cent since then, putting its market capitalization at $15.5-million; at last count, its debt was $357-million. Bellatrix is one of numerous Canadian energy companies struggling with commodity prices at a fraction of those in the U.S. markets, high debt and environmental liabilities as well as uninterest among investors. Recent moves by the Alberta government, including $23-million in tax breaks, have so far failed to lift their fortunes. A lack of access to capital has been a major problem for the oil patch. Semi-annual borrowing base reviews, in which lenders recalculate companies' capacity for credit, are about to begin and financing is expected to get even tighter.