Troika Resource is a private equity fund chipped in jointly by SK Energy (an SK Group company), Samchully Asset Management (a Samchully Group financial service unit), and Korea Development Bank. The joint venture will be established by a 50:50 investment by Troika Resource and Bellatrix Exploration.
The two companies will explore 63 tight oil and gas bore holes near Perry, Alberta. The output will be shared 65:35 between Bellatrix and Troika Resource. Tight oil is a petroleum play that consists of light crude oil contained in petroleum-bearing formations of low permeability, often shale or tight sandstone.
An investment banker said of the deal, "Unlike Daewoo International that will have to directly involve in the development process, the Troika consortium is more stable with higher profitability given the 63-well project includes 14 bore holes Bellatrix has already developed on its own."
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