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Brigham Exploration provides operational update


Published Jun 29, 2010
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Brigham Exploration Company

Brigham Exploration Company has completed the Ross-Alger 6-7 #1H, the Owan 29-32 #1H and the Abe 30-31 #1H at early 24 hour peak flow back rates of 3,070, 2,302 and 1,847 barrels of oil equivalent, respectively. To date, Brigham has successfully completed 26 consecutive long lateral, high frac stage wells at an average early 24 hour peak flow back rate of 2,648 barrels of oil equivalent. Brigham also provided an operational update. Importantly, as a result of strong well performance, Brigham is updating its second quarter 2010 production guidance and is currently estimating that production will average between 7,000 and 7,500 barrels of oil equivalent per day.

Brigham announced the completion of its operated Ross-Alger, Owan and Abe at early 24 hour peak flow back rates of 3,070 (2,694 Bopd and 2.26 MMcf/d), 2,302 (1,976 Bopd and 1.95 MMcf/d) and 1,847 (1,570 Bopd and 1.66 MMcf/d) barrels of oil equivalent, respectively. The Ross-Alger is located in Brigham's Ross project area in Mountrail County, North Dakota. Brigham maintains an approximate 47% working interest in the Ross-Alger, which was completed with 32 frac stages. The Owan and the Abe are located in Brigham's Rough Rider project area in Williams County, North Dakota. Brigham maintains an approximate 78% and 97% working interest in the Owan and Abe, respectively, which were both completed with 31 frac stages.

Brigham's accelerated development of its core operated acreage in Williams, McKenzie and Mountrail Counties is proceeding with five operated rigs drilling, four of which are located in Rough Rider with an additional rig located in Ross. In addition, one Bakken well is currently fracing and seven operated wells are waiting on completion.

Bud Brigham, the Chairman, President and CEO, commented, "Our very successful drilling and completion formula is translating into strong production and reserve growth and as a result we currently anticipate that our second quarter production volumes will be approximately 12% above the mid point of our previously provided production guidance of 6,500 barrels of oil equivalent per day. Importantly, based on the mid point of our revised guidance, during the second quarter of 2010 our oil production volumes are expected to be up 183% relative to the same period a year ago, to a record of approximately 5,150 barrels of oil per day. The credit for this increase goes to our highly innovative and visionary staff, which continues to enhance our drilling and completion techniques in order to maximize stockholder value. Most recently, in addition to other innovations, we successfully ran 38 swell packers in the Wright 4-33 #1H and anticipate completing the well with 38 frac stages, which would represent a new company record in the Williston Basin."

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