CALGARY, Alberta, Jan. 22, 2019 (GLOBE NEWSWIRE) — Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX, NYSE: BXE) announces that its board of directors has determined to commence procedures for the voluntary delisting of the Company’s common shares from the New York Stock Exchange (“NYSE”).
Bellatrix has notified the NYSE of its intent to file a Form 25 with the Securities and Exchange Commission (“SEC”) on or about February 1, 2019 to affect the voluntary delisting of Bellatrix’s common shares from the NYSE.
After careful consideration and a review of several options, the board of directors concluded that the delisting of Bellatrix’s common shares from the NYSE is in the Company’s best interests and provided several benefits to the Company including, but not limited to, reduced listing fees and internal administration costs, and in the future, the potential for cost reductions associated with U.S. reporting requirements. The cost savings are expected to be realized annually starting in 2019, with incremental costs savings expected following de-registration of Bellatrix’s common shares with the SEC.
Bellatrix’s common shares will continue to trade on the Toronto Stock Exchange under the ticker BXE, and the Company remains in compliance with all TSX listing requirements.
Bellatrix Exploration Ltd. is a publicly traded Western Canadian based growth oriented oil and gas company engaged in the exploration for, and the acquisition, development and production of oil and natural gas reserves, with highly concentrated operations in west central Alberta, principally focused on profitable development of the Spirit River liquids rich natural gas play.
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