Q: I was wondering why the SP of TWM had been weak lately while the rest of the energy sector has been rebounding. This morning I stumbled into this while doing research. And BXE is a good example of a stock that has had a nice climb over the past 10 days. As always, I would appreciate your views.
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On February 1, 2018, Bellatrix Exploration Ltd. ("Bellatrix") served an Amended Statement of Claim (Statement of Claim filed by Bellatrix on December 21, 2017) on Tidewater alleging a breach of a Gas Handling Agreement and CO&O Agreement pursuant to which Tidewater operates the BRC gas plant and processes Bellatrix gas volumes. The claim pertains to the allocation of NGLs at the plant, as well as production flow through and take-or-pay commitments. The claim is for $20.75 million plus additional damages. The action was commenced in the Court of Queen's Bench of Alberta. Tidewater subsequently filed a Statement of Defence and Counterclaim against Bellatrix seeking $9.5 million plus additional damages. As at the date hereof, Bellatrix has not filed a Statement of Defence to the Counterclaim.
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On February 1, 2018, Bellatrix Exploration Ltd. ("Bellatrix") served an Amended Statement of Claim (Statement of Claim filed by Bellatrix on December 21, 2017) on Tidewater alleging a breach of a Gas Handling Agreement and CO&O Agreement pursuant to which Tidewater operates the BRC gas plant and processes Bellatrix gas volumes. The claim pertains to the allocation of NGLs at the plant, as well as production flow through and take-or-pay commitments. The claim is for $20.75 million plus additional damages. The action was commenced in the Court of Queen's Bench of Alberta. Tidewater subsequently filed a Statement of Defence and Counterclaim against Bellatrix seeking $9.5 million plus additional damages. As at the date hereof, Bellatrix has not filed a Statement of Defence to the Counterclaim.