In late March, Bellatrix Exploration (BXEFF) proposed a recapitalization transaction that would reduce its debt by around $112 million CAD ($83 million USD) while giving 83.5% of its equity to its debtholders. This was not surprising given Bellatrix's high level of debt and its upcoming debt maturities. Bellatrix has more recently announced that it received the required level of debtholder support for the plan to go through.
This will reduce Bellatrix's interest costs by around $12 million CAD ($9 million USD) and reduce its natural gas breakeven point by around $0.17 USD per