Bellatrix Announces Strategic $118M Acquisition And Increased Production Guidance

Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE:

) is pleased to announce it has completed the acquisition of complementary assets within its core Alder Flats area of west central Alberta (greater Ferrier region) from a senior oil and gas producer for total cash consideration of approximately $118 million. The strategic tuck-in acquisition adds approximately 2,200 boe/d of currently unrestricted production (80% natural gas, 20% liquids), and largely represents the consolidation of working interest ownership from existing wellbores and Mannville formation rights. The transaction has an effective date of November 1, 2014. The transaction enhances forecast cash flow per share, production per share, reserves per share, and the Company's 2014 exit and 2015 production guidance. The acquisition is consistent with Bellatrix's strategy to consolidate working interest ownership and acquire operatorship within the core Ferrier area at attractive metrics. Additionally, the transaction provides immediate low risk, high working interest drilling opportunities in the Notikewin and Falher B members, with additional identified upside potential in the highly prospective Falher A and Wilrich members of the Spirit River formation.