Bellatrix Exploration Ltd. announces its 2014 year-end reserves information. Reserves at December 31, 2014 were independently evaluated by Sproule Associates Limited. The evaluation encompasses 100% of Bellatrix's oil and gas properties and was prepared in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ('NI 51-101').
2014 marked another successful and profitable growth year for Bellatrix. The Company delivered a 100% success rate through the drill bit, anchoring another strong year of reserves growth as punctuated by the following achievements:
•Bellatrix benefitted from its largest capital program in the Company's history which provided 18% growth in Proved plus Probable ('2P') reserves to a total of 250 million boe with a 10% NPVBT of $2.1 billion at December 31, 2014. The NPVBT value was relatively unchanged from year end 2013 despite a material contraction in average near term (2 year) natural gas and oil price forecasts used by independent reserve evaluators.
•Proved ('1P') reserves grew 30% year over year to 161 million boe.