Bellatrix Confirms 2014 Guidance

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Bellatrix Exploration
BXE
is pleased to confirm its 2014 guidance and announce that  it has completed its mid-year review of its 2013 credit facilities and provides an update of its recent commodity price risk management activities. 2013 has been an extraordinary year earmarked by significant production growth, announcing three separate joint ventures designed to accelerate our program on a promoted basis, an equity financing, redemption of its convertible debentures and closing on December 11, 2013 of an impactful corporate acquisition.  These strategic transactions strengthen the Company by accelerating our ability to provide shareholder value accretion. 2014 Guidance Bellatrix expects its 2013 calendar year average daily production will be +/- 22,250 boe/d and that its  exit rate guidance will be +/- 40,000 boe/d with total crude oil, condensate and NGLs at exit at approximately 37%. Since November 2013 and for all of 2014, Bellatrix plans to continue to be active in drilling with 10 rigs operating in its two core resource plays, the Cardium oil and Mannville condensate rich gas, utilizing horizontal drilling multi-fracturing technology.  With the closing of the acquisition of Angle Energy Inc. ("Angle") in December
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Posted In: NewsGuidanceManagementM&AGlobal
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