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Brigham Exploration Announces Significant Bakken Discoveries, Accelerated Williston Basin Drilling Program, Planned Three Forks Tests and Updates 2008 Capital Expenditure Budget
Market Wire, July, 2008
Brigham Exploration Company (NASDAQ: BEXP) announced the successful completion of its Mrachek 15-22 1H well, located west of the Nesson Anticline, at an early flowing production rate of approximately 727 barrels of oil equivalent per day. The company also announced the successful completion of its first well in its North Stanley area of Mountrail County, ND, the Johnson 33 #1H, at an early peak flowing rate of 618 barrels of oil equivalent per day. In addition, the company announced that completion operations are underway on two other Mountrail County Bakken wells, two significant Parshall/Austin area wells are currently drilling, and that at least one Three Forks well is planned for the second half of 2008 in Mountrail County. Further, Brigham Exploration Company is picking up a second operated rig in August to further accelerate its drilling program in the Williston Basin on both sides of the Nesson Anticline.
SIGNIFICANT WELLS RECENTLY COMPLETED, COMPLETING, DRILLING OR PREPARING TO
DRILL
Resource Plays Objective WI% NRI Status / Comments
------------------- ---------- --- --- ---------------------------------
Mrachek 15-22 #1H Bakken 100% 79% McKenzie County N.D. well's
initial 24 hr rate 659 Bo & 407
Mcfg per day on May 14th,
recently flowing ~180 to 220
barrels of oil equivalent,
putting on pump
Johnson 33 #1H Bakken 38% 30% Completing N. Stanley Area well
early rate of 618 Boepd, flowing
average ~560 Boepd over the last
3 days
Manitou State 36 #1H Bakken 100% 81% Completing Ross Area well,
initial rate 305 Boepd,
installing pump
Carkuff 22 #1H Bakken 67% 55% Completing Ross Area well with
frac scheduled for mid July,
results in August
Kvamme 2 #1H Bakken 50% 40% Drilling 1st operated
Parshall/Austin Area well,
results late August
Slawson Payara#1-21H Bakken 18% 14% Drilling Slawson operated well ~
3 miles west of Parshall Field,
results in August
EOG Austin 25-35 1H Bakken 25% 20% Reported July spud of
Parshall/Austin Area offset to
EOG Austin 8-26H with reported
IP of 3,060 Bopd
Wayzetta 13-01H Bakken 25% 20% Reported August spud of
Parshall/Austin Area well near
EOG Austin 8-26H
Williams Cnty Well Bakken 59% 47% Planned August spud of well west
of Nesson Anticline in ~100,000
acre block between Field &
Erickson
McKenzie Cnty Well Bakken 64% 50% Planned September spud of well
west of the Nesson Anticline in
~100,000 acre block northeast of
Mrachek
Adix 25 #1H Three Forks 32% 26% Planned August spud of Three
Forks test in Ross Area, results
in November
Afseth 34 #1-H Bakken or 41% 33% Planned September spud of Bakken
Three Forks or/and Three Forks test in North
Stanley Area, results in
October
Southern Ext. Well Bakken 100% 85% Planned October spud in southern
extensional area where Brigham
controls over 31,000 net acres
Conventional Wells Objective WI% NRI Status / Comments
------------------- ---------- --- --- ---------------------------------
SL 18826 #1 Miocene 50% 39% Main Pass well production tested
at 15.4 MMcfgd, expected to
produce 15-20 MMcfgd in late
August
SL 19312 #1 Miocene 50% 38% Completing Chandeleur Sound well
that encountered 24' apparent
pay offsetting producer, prod'n
test late July
SL 19054 #1 Miocene 50% 38% Currently drilling 3rd JV well at
Breton Sound, testing amplitude
attribute @ total depth ~8,000'
BLM 013045 #1 Miocene 50% 38% Planned September spud of 4th JV
well at Romere Pass, testing
amplitude attribute @ total
depth ~8,000'
Cotten Land #5 Miocene 43% 33% Planned August spud of
acceleration well developing
behind pipe pay in Cotten Land
#3
Harrison Unit #1 Melbourne 33% 25% Planned 3rd quarter spud of
development well offsetting
producer in Matagorda County
Cary Sr. Estate #1 Oligocene 40% 29% Currently completing
Richardson 30 #1 Red River 74% 56% 2nd Consecutive Red River
discovery tested with initial
rate of 168 Bopd, currently ~102
Bopd
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