Brigham Exploration Announces Significant Frio Discovery and Other Recent Drilling Results.Business Editors & Energy Writers
AUSTIN, Texas--(BUSINESS WIRE)--April 16, 2001
Brigham Exploration Company (Nasdaq:BEXP) today announced its third consecutive Frio bright spot discovery, other recent drilling discoveries and the spud of a high impact test offsetting its Home Run Field in Brooks County, Texas Brooks County is a county located in the U.S. state of Texas. As of 2000, the population is 7,976. Its county seat is Falfurrias6. Brooks is named for James Abijah Brooks, a Texas Ranger and legislator. Geography
According to the U.S. .
Recent Drilling Results
Frio Bright Spot Discovery -- During the first quarter, Brigham participated in the successful drilling of a 3-D delineated de·lin·e·ate
tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates
1. To draw or trace the outline of; sketch out.
2. To represent pictorially; depict.
3. Frio bright spot discovery in Matagorda County, Texas Matagorda County is a county located in the U.S. state of Texas. As of 2000, the population was 37,957. Its county seat is Bay City6. Matagorda County is named for the canebrakes which once grew along the coast (Matagorda is a Spanish word meaning "thick bush"). . The Carrizo-operated Pitchfork Ranch A-90 Well No. 1 production tested in the targeted Frio objective at daily rates of up to 10.5 MMcf of natural gas and 1,500 barrels of condensate condensate, matter in the form of a gas of atoms, molecules, or elementary particles that have been so chilled that their motion is virtually halted and as a consequence they lose their separate identities and merge into a single entity. per day, with flowing tubing pressure of 6,100 psi PSI - Portable Scheme Interpreter . The well should begin producing to sales in approximately one week at a planned rate of 14 MMcfe per day, or approximately 3.3 MMcfe per day net to Brigham's 23.5% revenue interest. This well is Brigham's third consecutive Frio bright spot discovery in the last four months and four additional Frio tests are planned for drilling in 2001.
Home Run Field Completions -- In late 2000 Brigham spud two development wells in its Home Run Field in Brooks County, Texas. The Palmer State No. 4 was fracture fracture, breaking of a bone. A simple fracture is one in which there is no contact of the broken bone with the outer air, i.e., the overlying tissues are intact. In a comminuted fracture the bone is splintered. stimulated in four Vicksburg pay intervals and is currently producing 6.8 MMcf of natural gas and 280 barrels of condensate per day with flowing tubing pressure of 4,800 psi, or 2.5 MMcfe net to Brigham's 29% net revenue interest. The D.J. Sullivan C-25 was fracture stimulated in five Vicksburg pay intervals and is currently producing 9.8 MMcf of natural gas and 390 barrels of condensate per day with flowing tubing pressure of 5,270 psi, or 3.0 MMcfe net to Brigham's 25% net revenue interest. Brigham currently plans three additional development wells in the Home Run Field in 2001.
Exploratory Offset to Home Run Field -- Brigham recently spud a 14,500 foot test of a downthrown fault block offsetting its Home Run Field discovery. Brigham negotiated an increase of its working interest to 50%, and the well will test a high potential exploratory structure that lies immediately beneath a Frio field that has produced approximately 180 Bcfe to date. This well is currently drilling at a depth of approximately 7,600 feet and should reach total depth in June.
Anadarko Basin The Anadarko Basin is one of the most prolific natural gas reserves in North America, with ultimate gas production in excess of 100 trillion cubic feet of gas. External links
a North American term commonly used to describe heifers close to term with their first calf. Channel Discovery -- In the first quarter Brigham drilled a successful offset to its Price No. 2 Springer discovery. The Price No. 2 has produced over 1.8 Bcfe since May 2000, and is currently producing over 5 MMcfe per day. Drilled to a total depth of approximately 10,350 feet, the Price No. 3 well encountered approximately 22 feet of net pay. Brigham operates the discovery and retains a 50% working interest. Completion operations are under way, and initial sales are expected in late April. Brigham estimates that it will initially produce the Price No. 3 at a pipeline curtailed rate of approximately 2.2 MMcfe per day, or 0.9 MMcfe per day net to Brigham's 41% revenue interest.
Brigham recently spud another Springer test with a 58% working interest, and has plans to spud two additional wells in the area within the next thirty days, including an offset well to its recently announced Zachary No. 1 discovery. The Brigham-operated Zachary No. 1 began producing to sales in March 2001 and is currently producing approximately 6.8 MMcfe per day, or 1.4 MMcfe per day net to Brigham's 20% revenue interest.
Canyon Reef Discovery -- Brigham recently completed its second consecutive Canyon Reef discovery, which encountered approximately 100 feet of reef pay at a depth of approximately 9,100 feet. Brigham expects to begin producing the well to sales in one week at an initial rate of 175 barrels of oil per day, or 0.8 MMcfe per day net to Brigham's 78% revenue interest. Brigham's recently announced fourth quarter 2000 Canyon Reef discovery began producing to sales in late March and is currently producing approximately 190 barrels of oil per day, or 0.8 MMcfe per day net to Brigham's 71% revenue interest. Brigham recently spud its third consecutive Canyon Reef test of an analogous analogous /anal·o·gous/ (ah-nal´ah-gus) resembling or similar in some respects, as in function or appearance, but not in origin or development.
adj. prospect in which it retains a 100% working interest.
Fusselman Discovery -- Brigham recently completed a 3-D delineated stratigraphic stra·tig·ra·phy
The study of rock strata, especially the distribution, deposition, and age of sedimentary rocks.
strat Fusselman discovery. The Brigham-operated well encountered the targeted Fusselman objective at a depth of approximately 9,700 feet with an estimated 20 feet of Fusselman carbonate carbonate (kär`bənāt', –nət), chemical compound containing the carbonate radical or ion, CO3−2. Most familiar carbonates are salts that are formed by reacting an inorganic base (e.g. pay. Brigham began producing the well to sales in early April, and the well is currently producing approximately 170 barrels of oil per day, or 0.4 MMcfe per day net to Brigham's 43% revenue interest.
About Brigham Exploration
Brigham Exploration Company is an independent exploration and production company that applies 3-D seismic imaging and other advanced technologies to systematically explore and develop onshore on·shore
1. Moving or directed toward the shore: an onshore wind.
2. Located on the shore: an onshore beacon; an onshore patrol.
adv. domestic natural gas and oil provinces. For more information about Brigham Exploration, please visit our Web site at www.bexp3d.com or contact Investor Relations Investor relations
The process by which the corporation communicates with its investors. at 512/427-3444.
Forward Looking Statements Disclosure
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements forward-looking statement
A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are based upon current expectations. Important factors that could cause actual results to differ materially from those in the forward-looking statements include risks inherent in exploratory drilling activities, the timing and extent of changes in commodity prices, unforeseen engineering and mechanical or technological difficulties in drilling wells, availability of drilling rigs, land issues, federal and state regulatory developments and other risks more fully described in the company's filings with the Securities and Exchange Commission.