Another frac dust biter? Calgary-based Bellatrix Exploration Ltd. (of Diana Daunheimer lawsuit fame) seeks buyer as part of court-supervised restructuring. Given level of debt, no assurance creditors’ claims will be satisfied. When will courts order companies to “restructure” frac’d environments, families, lands, farms, waterways, aquifers, exploded water towers, etc?

Ian Jessop interviews Diana Daunheimer about omnipotent, propagandizing AER and her lawsuit against Bellatrix (previously Angle Energy) for harming her family by hydraulic fracturing

MUST LISTEN! Ian Jessop Interviews Diana Daunheimer on nasty attempt by Bellatrix/Angle Energy to kill her frac lawsuit by demanding $33,000 Security of Costs and more, to pay the company’s legal fees upfront, before trial!

Unfortunately, CFAX removed many of Mr. Jessop’s most riveting and important interviews, notably those with Diana on her lawsuit against Bellatrix.

Diana Daunheimer files response to Statement of Defence filed by Angle / Bellatrix in $13 Million dollar frac lawsuit

Canadian Diana Daunheimer awaits February 7 Statement of Defence on fracking nightmare by Angle Energy recently purchased by Bellatrix

Hedge fund buys 5.3 per cent stake in Bellatrix (previously Angle Energy), plans to shake up the board and tell management to “maximize shareholder value”

Watch news clip: Bellatrix Exploration puts itself up for sale by BNN

Calgary-based Bellatrix Exploration Ltd. is seeking a buyer as part of a court-supervised restructuring process by Amanda Stephenson, Oct 2, 2019, Calgary Herald

Calgary-based Bellatrix Exploration Ltd. is seeking a buyer as part of a court-supervised restructuring process.

The publicly traded oil and gas company — whose operations are concentrated in west central Alberta, where it is principally focused on the Spirit River liquids rich natural gas play — has filed for creditor protection amid ongoing industry challenges [or greed and the endless economic disasters brought on by frac’ing?] including “prolonged and continued” poor natural gas prices [Refer below for reality check], Bellatrix said in a release Wednesday.

A court order will allow Bellatrix to continue to operate without disruption while it pursues potential strategic options aimed at maximizing value for the benefit of the company’s stakeholders. One option that has been identified is the sale of all or part of the business, as well as refinancing, recapitalization or other restructuring alternatives. The company intends to explore market interest with a range of potential partners, according to the release.

There is no guarantee a buyer will be found, Belletrix said, and given the level of debt the company owes, there is no assurance that creditors’ claims will be satisfied.

Bellatrix said it intends to continue to pay its employees and suppliers during the CCAA proceedings. [What about cleaning up?]

Refer also to:

2019 08 07: Frackers have spilled billions of dollars in red ink. Fracked oil & natural gas have been financial disasters. “Cash flows from fracking-focused oil and gas companies across the US have been negative for decades — even when oil and gas prices were higher than they are now.

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