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IS - Spartan team returns to Canadian oil patch in Bellatrix buy - May 2020
Under a court-supervised creditor protection plan launched in October, Alberta Deep Basin producer Bellatrix Exploration announced the sale of its entire portfolio to recently recapitalized Return Energy. The acquirer will pay C$87.4 million cash and assume C$14.8 million in liabilities, bringing the total value of the transaction to C$102.2 million ($72.1 million). Upon completion of the deal, expected by May 29, Return, which is led by former executives of Spartan Oil and Spartan Energy,......
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