AUSTIN, TX, Apr 05 (MARKET WIRE) —
Brigham Exploration Company (NASDAQ: BEXP) announced updated production
performance on the Sorenson 29-32 #1H. Subsequent to drilling out frac
plugs, the Sorenson produced at an early 24 hour peak flow back rate of
5,133 (4,335 barrels of oil and 4.79 MMcf) barrels of oil equivalent per
day, which, based on publicly reported data available to the Company,
represents an apparent record production rate for the over 2,700
horizontal wells in the Williston Basin. The Sorenson is located in
Brigham’s Ross project area in Mountrail County, North Dakota and is a
long lateral completed with 27 frac stages, perf and plug and ceramic
proppant. Brigham maintains an approximate 95% working interest in the
Sorenson. Based on this updated production performance, Brigham has
completed five long lateral high frac stage wells in Ross with an average
early 24 hour peak flow back rate of approximately 2,980 barrels of oil
equivalent per day.
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 include 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.
Rob Roosa, Finance Manager
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