Brigham Exploration Closes Property Sales for $17.1 Million.

AUSTIN, Texas--(BUSINESS WIRE)--June 25, 1999--

Brigham Exploration Company (NASDAQ:BEXP) today announced that it has sold certain producing and non-producing oil and natural gas properties located in its Anadarko Basin province to two separate parties for a total of $17.1 million. Brigham intends to use the proceeds from these transactions to reduce borrowings under its bank credit facility and to fund working capital needs and planned drilling expenditures during the second half of 1999. Through these property divestitures, Brigham expects to generate at least $5 million in net capital availability to fund its activity during the remainder of 1999 after applying a portion of the proceeds to reduce outstanding bank debt borrowings. The effective date of each transaction is June 1, 1999.

The divested properties are located in two fields operated by third parties - the Chitwood Field in Grady County, Oklahoma, and the Red Deer Creek Field in Roberts County, Texas. Brigham's independent reservoir engineers have estimated net proved reserve volumes attributable to the properties as of June 1, 1999 of approximately 36 Bcfe, of which 33% are classified as proved developed producing reserves and 59% are natural gas. Excluding the divested properties, management estimates Brigham's net proved reserve volumes at June 1, 1999 to be 71 Bcfe. Brigham estimates current net production volumes from the divested properties to be 2.8 MMcfe per day. Based upon net production added from wells completed by the Company during 1999, Brigham estimates that it has offset the production volumes attributable to the divested properties as well as production decline from existing wells.

Bud Brigham, the Company's Chairman, CEO and President, stated, "These transactions represent a significant step toward the accomplishment of our Company's goal to improve our capital liquidity to fund the drilling of our inventory of high-quality, high-impact prospects. We embarked upon a series of capital raising and cost reduction initiatives at the outset of 1999 and are pleased to report our continued success in completing these goals. With the closing of these property divestitures, Brigham has raised almost $40 million in capital and incremental liquidity through a combination of producing and non-producing asset sales, debt restructurings and corporate equity placements completed to date in 1999. We consider these transactions to be reflective of the quality of our substantial asset base of proved and unproved properties, and illustrative of the confidence our stakeholders have in our future growth potential."

ABOUT BRIGHAM EXPLORATION

Brigham Exploration Company (www.bexp3d.com) is an independent exploration and production company that applies 3-D seismic imaging and other advanced technologies to systematically explore and develop onshore domestic natural gas and oil provinces.

FORWARD LOOKING STATEMENTS DISCLOSURE

Except for the historical information contained herein, the matters discussed in this news release are forward looking statements 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.