SOURCE: Brigham Exploration

Brigham Exploration

December 15, 2010 06:00 ET

Brigham Exploration Announces Five High Rate Bakken Completions and Provides an Operational Update

AUSTIN, TX--(Marketwire - December 15, 2010) - Brigham Exploration Company (NASDAQ: BEXP) announced the completion of five high rate Bakken wells at an average early 24-hour peak flow back rate of 3,085 barrels of oil equivalent. To date, Brigham has completed 45 consecutive high frac stage, long lateral Bakken and Three Forks wells in North Dakota at an average early 24-hour peak flow back rate of 2,810 barrels of oil equivalent. Brigham also provided an update on its drilling and completion activities in the Williston Basin. 

Williston Basin Operated Well Result Update

The following table updates Brigham's high frac stage long lateral well results:

                    Early 24-Hour Peak Flow Back Rate
Well   County, State   Objective   Stages   Working Interest   Crude Oil (1)   Natural Gas (2)   Barrels of Oil Equivalent (3)
Arvid Anderson 14-11 #1H   Mountrail, ND   Bakken   38   68%   2,834   2.14   3,191
Roger Sorenson 8-5 #1H   Mountrail, ND   Bakken   38   54%   2,347   1.87   2,658
Heen 26-35 #1H   Williams, ND   Bakken   38   76%   3,425   2.19   3,791
Brakken 30-31 #1H   Williams, ND   Bakken   30   56%   2,804   4.61   3,573
Lippert 1-12 #1H   Williams, ND   Bakken   31   66%   2,000   1.29   2,214
Average                           3,085

(1) Barrels of crude oil.
(2) Millions of cubic feet of natural gas (MMcf).
(3) Converted to barrels of oil equivalent using the ratio of 6 Mcf of natural gas per barrel of crude oil.

Williston Basin Operated Drilling and Completion Update

Brigham's accelerated development of its acreage in North Dakota and Montana is proceeding with three operated rigs drilling in Rough Rider, three operated rigs drilling in Ross and one operated rig drilling in Richland County, Montana. Brigham's eighth operated rig is currently expected to arrive in May 2011. 

Brigham currently has two wells flowing back, two wells fracing and eight wells waiting on completion. Brigham anticipates fracing the Swindle 16-9 #1H located in Roosevelt County, Montana early in the first quarter 2011. Shortly thereafter, Brigham will frac the Johnson 30-19 #1H, which is located in Richland County, Montana.

In the first quarter 2011, Brigham expects to add additional fracture stimulation capacity thereby providing access to two fully dedicated frac crews focused on completing Brigham operated horizontal wells in the basin. At that time, Brigham estimates that approximately eight wells per month will be fracture stimulated and brought on line to production. 

Bud Brigham, the Chairman, President and CEO, commented, "2010 has been a year of incredible transformation as we rapidly increased our operated rig count from four to seven rigs and we've seen our production, and most importantly our high value crude oil production, grow to record levels." 

Bud Brigham continued, "We expect 2011 to be equally if not more exciting than 2010. We expect to add our eighth rig in May 2011 and to have two fully dedicated frac crews running in the first quarter 2011. In the interim, we're actively working to develop an executable plan to increase our rig count further in order to accelerate drilling in one of the most exciting and economic oil resource plays in the United States. Furthermore, we are optimistic that we can add to our already extensive development drilling inventory with our Montana Bakken and Rough Rider Three Forks drilling and completions during the first half of 2011. During 2011 we also anticipate the potential confirmation of the opportunity to drill four or more wells per spacing unit with our infill drilling program, striving towards our goal of 'No Oil Left Behind.'"

About Brigham Exploration

Brigham Exploration Company is an independent exploration, development and production company that utilizes advanced exploration, drilling and completion technologies to systematically explore for, develop and produce domestic onshore oil and natural gas reserves. For more information about Brigham Exploration, please visit our website at www.bexp3d.com or contact Investor Relations at 512-427-3444.

Forward-Looking Statement Disclosure

Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements within the meaning of the federal securities laws. Important factors that could cause our actual results to differ materially from those contained in the forward-looking statements early initial production rates which decline steeply over the early life of wells, particularly our Williston basin horizontal wells for which we estimate the average monthly production rates may decline by approximately 70% in the first twelve months of production, our growth strategies, our ability to successfully and economically explore for and develop oil and gas resources, anticipated trends in our business‚ our liquidity and ability to finance our exploration and development activities‚ market conditions in the oil and gas industry‚ our ability to make and integrate acquisitions, the impact of governmental regulation and other risks more fully described in the company's filings with the Securities and Exchange Commission. Forward-looking statements are typically identified by use of terms such as "may," "will," "expect," "anticipate," "estimate" and similar words, although some forward-looking statements may be expressed differently. All forward-looking statements contained in this release, including any forecasts and estimates, are based on management's outlook only as of the date of this release, and we undertake no obligation to update or revise these forward-looking statements, whether as a result of subsequent developments or otherwise.

Contact Information

  • Contact:

    Rob Roosa
    Finance Manager
    (512) 427-3300