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A Wall Street Transcript Interview with the Executive Vice President of the Bellatrix Exploration Ltd. (BXE) Brent A. Eshleman

67 WALL STREET, New York - March 3, 2014 - The Wall Street Transcript has just published its Oil & Gas: Refining, Independent and Major Integrated Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Oil Price Expectations - Unconventional Resources - Capital Expenditures and Consolidation Activity - Oil and Gas - Emerging Shale Plays - Shale Drilling Capital Expenditures - Independent E&P Opportunities

Companies include: Bellatrix Exploration Ltd. (BXE)

In the following excerpt from the Oil & Gas: Refining, Independent and Major Integrated Report, the EVP of Bellatrix discusses the outlook for his company for investors:

TWST: Let's start out with a brief overview of Bellatrix Exploration and the company's history, activities, those kinds of things.

Mr. Eshleman: Bellatrix is a growth-oriented company in the Western Canadian Sedimentary Basin. Bellatrix was formed out of the plan of arrangement in 2009, and since then we have grown from roughly 6,000 BOEs a day to 40,000 BOEs a day, primarily through the drill bit, and with an acquisition in the fourth quarter of 2013 of Angle Energy.

TWST: Bellatrix saw 2013 end with record production, turning what appeared to be a difficult year into a very successful one. What were some of the goals set by the company, looking back 18 months ago, and how has the company faired against those goals?

Mr. Eshleman: 18 months ago, when we looked at what direction to take the company, we were sitting on an enormous asset base, 30-plus years of drilling inventory, and so we looked at how to cycle forward that inventory to add value on the bottom line for the shareholders. So the course we took for 2013, which was from the game plan that we had in 2012, was to conduct joint ventures to bring in promoted capital, and with that an acquisition became available to us late into the third quarter last year that we're able to consummate into the fourth quarter and acquire at accretive metrics across the board. We were very successful on cycling forward shareholder value by bringing in promoted joint venture capital that we started drilling with at the end of 2013, and will continue drilling with through 2014 and into 2015.

TWST: What are some of the company's priorities for the next 12 months? What would make that time frame a success?

Mr. Eshleman: Right now what would make 2014 very successful is execution of the game plan that we have set into place. We have a $610 million budget this year with three joint venture parties. The company that we acquired in December was amalgamated into our staff and into our office at the first week of January. So that has been executed very successfully. And right now it's just execution of our drilling program.

TWST: What's been the financing history of the company at this point, and are any of those items on the short-term 12 months agenda?

For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.