8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

_______________

Date of Report (Date of earliest event reported): November 6, 2007

Brigham Exploration Company

(Exact name of registrant as specified in its charter)

Delaware	000-22433	75-2692967
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

6300 Bridgepoint Parkway

Building Two, Suite 500

Austin, Texas 78730

(Address, including zip code, of principal executive offices)

Registrant's telephone number, including area code: (512) 427-3300

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))

Item 2.02 Results of Operation and Financial Condition.

Registrant is furnishing its press release dated November 6, 2007, which announces its financial results for the three months ended September 30, 2007 and provided fourth quarter forecasts. The text of that press release is attached to this Report as Exhibit 99.1 and is incorporated by reference herein.

With the filing of this report on Form 8-K and the issuance of the attached press release, we are also updating our corporate presentation, which can be found on our website at www.bexp3d.com. We caution you that the information provided in our corporate presentation is given as of November 6, 2007 based on currently available information, and that we are not undertaking any obligation to update our estimates as conditions change or other information becomes available.

Registrant is also furnishing its press release dated November 6, 2007, which provides an operational update.  The text of the press release is furnished as attached hereto as Exhibit 99.2.

Item 9.01Financial Statements and Exhibits.

(d) Exhibit 99.1Press release dated November 6, 2007.

(d) Exhibit 99.2 Press release dated November 6, 2007.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	BRIGHAM EXPLORATION COMPANY
Date:November 7, 2007
	By:	/s/ Eugene B. Shepherd, Jr.
		Eugene B. Shepherd, Jr.
		Executive Vice President & Chief Financial Officer

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INDEX TO EXHIBITS

Item Number	Exhibit
99.1*	Press release dated November 6, 2007.
99.2*	Press release dated November 6, 2007.

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EX-99.1

NEWS RELEASE FOR IMMEDIATE RELEASE

BRIGHAM EXPLORATION REPORTS THIRD QUARTER 2007 RESULTS AND PROVIDES FOURTH QUARTER 2007 FORECASTS

AUSTIN, Texas, Nov. 6 /PRNewswire-FirstCall/ -- Brigham Exploration Company (Nasdaq: BEXP) today announced its financial results for the third quarter and nine months ended September 30, 2007.

THIRD QUARTER 2007 RESULTS

Our net daily production volumes for the third quarter 2007 were 43.4 MMcfe per day, an increase of 20% when compared to the third quarter 2006. Third quarter 2007 revenues from the sale of oil and natural gas including derivative hedging settlements but excluding unrealized derivative hedging gains and losses were up 22% to $31.5 million when compared to the third quarter last year. Increased production volumes and increased oil and natural gas prices increased revenue by $4.0 and $1.0 million, respectively. Higher derivative hedging settlements increased oil and natural gas revenue by $0.6 million.

Our average realized price for natural gas during the third quarter 2007 was $7.31 per Mcf, which included a $0.60 per Mcf gain due to the settlement of our natural gas derivative contracts. This compares to an average realized price in the third quarter 2006 of $6.99, which included a $0.51 per Mcf gain due to the settlement of our natural gas derivative contracts. During the third quarter 2007, our average realized price for oil was $73.43 per barrel, which included a $0.22 per barrel loss due to the settlement of our oil derivative contracts. This compares to an average realized price in the third quarter 2006 of $72.36, which included a $0.50 per barrel gain due to the settlement of our oil derivative contracts.

Our per unit production costs, which include costs for operating and maintaining (O&M expense) our wells, expensed workovers, ad valorem taxes and production taxes, were down $0.31 per Mcfe, or 26%, when compared to the third quarter last year. Our per unit O&M expense decreased by $0.16 per Mcfe, or 25%, from the corresponding period last year because of a decrease in salt water disposal, chemical treating, and compressor and equipment rental. The September 1, 2007 sale of our Anadarko Basin Granite Wash properties largely drove the decrease in salt water disposal costs. Production tax expense decreased $0.15 per Mcfe, or 38%, from the third quarter 2006. The decrease was due to a $0.2 million increase in tax credits associated with high cost gas production tax abatements. The increase in tax credits is partially attributable to the fact that we are recording credits immediately upon commencing production from our Vicksburg and Mills Ranch wells given our 100% success rate in applying for credits rather than deferring recognition until receiving approval from relevant government authority. In addition, our ad valorem taxes decreased $0.03 per Mcfe, or 21%, due to a decrease in estimated property valuations for our oil and natural gas properties during 2007. These decreases were offset by an increase in expensed workovers of $0.03 per Mcfe, or 75%, largely attributable

to work performed in our Providence Field.

Per unit general and administrative (G&A) expense for the third quarter 2007 increased 5% to $0.64 per Mcfe from the third quarter 2006 as higher compensation and travel costs offset higher production volumes. Roughly 87% of the increase in compensation expense was attributable to an increase in non-cash share-based compensation expense under FAS 123(R). Our depletion expense for the third quarter 2007 was $14.8 million ($3.78 per Mcfe) compared to $11.9 million ($3.67 per Mcfe) in the third quarter last year. Our increased production volumes accounted for 85% of the increase in third quarter 2007 depletion expense, while our increased depletion rate accounted for the remaining 15% of the increase in depletion expense. The increase in our depletion rate was a result of an increase in the cost of reserve additions.

Our operating income for the third quarter 2007 increased by 27% to $10.1 million from the third quarter 2006.

Our net interest expense for the third quarter 2007 increased by $1.3 million, or 49%, from last year. The increase was associated with our higher weighted average debt outstanding and a higher weighted average cost of debt attributable to our $35 million senior notes add-on, which was completed in April 2007. Our weighted average debt outstanding for the third quarter 2007 was $186.6 million compared to $135.1 million in the third quarter last year.

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We recorded deferred income tax expense of $2.3 million in the third quarter of this year, compared to deferred income tax expense of $3.1 million in the third quarter last year. Lower taxes were attributable to both a decrease in income before taxes and the adjustment of our 2006 income tax accrual.

Our reported net income for the third quarter 2007 was $4.2 million ($0.09 per diluted share) compared to net income of $5.2 million ($0.12 per diluted share) in the third quarter last year. Our after-tax earnings in the third quarter 2007, excluding the impact of our unrealized derivative losses, were $4.4 million ($0.10 per diluted share) and our after-tax earnings in the third quarter 2006, excluding both unrealized derivative gains and non-cash gains associated with the ineffective portion of our cash flow hedges, were $3.7 million ($0.08 per diluted share). After-tax earnings excluding the above items is a non-GAAP measure and a reconciliation of GAAP net income to after-tax earnings excluding the effect of the above items is included in our accompanying financial tables found later in this release.

At September 30, 2007, we had $10.5 million in cash and $528.5 million of total assets. After repaying the outstanding balance under our senior credit facility with the $35.4 million in proceeds from our Anadarko Basin Granite Wash asset sale, we had a debt to book capitalization ratio of 38% at the end of the third quarter 2007.

The table below lists our oil and gas capital expenditures.

	Three months ended September 30,
	2007		2006
	(in thousands)
Drilling	$	18,841	$	39,314
Net land and G&G		4,545		12,690
Capitalized costs		2,901		2,492
Capitalized FAS 143 ARO		97		37
Total oil and gas capital expenditures (a)	$	26,384	$	54,533

(a)   Excludes the impact of our September 1, 2007 Anadarko Basin Granite Wash asset sale.

FIRST NINE MONTHS 2007 RESULTS

Average daily production volumes for the first nine months 2007 were 43.6 MMcfe per day, an increase of 21% when compared to the first nine months of last year. First nine months 2007 revenues from the sale of oil and natural gas including derivative hedging settlements but excluding unrealized derivative gains and losses were up 23% to $95.7 million when compared to the corresponding period last year. Increased production volumes and 7% increase in our natural gas sales price increased revenue by $12.8 and $4.4 million, respectively. Oil and natural gas derivative hedging settlements increased revenue by $0.8 million.

Our average realized price for natural gas during the first nine months of 2007 was $7.56 per Mcf, which included a $0.33 per Mcf gain associated with the settlement of our natural gas derivative contracts. This compares to an average realized price of $7.12 per Mcf for the first nine months of last year, which included a $0.34 per Mcf gain due to the settlement of our natural gas derivative contracts. Our average realized price for oil for the first nine months of 2007 was $67.26 per barrel, which included a $0.31 per barrel gain due to the settlement of our oil derivative contracts. This compares to an average realized price in the first nine months of 2006 of $67.22, which was not impacted by the settlement of our oil derivative contracts.

Our per unit production costs for the first nine months 2007 were down $0.31 per Mcfe, or 27%, when compared to that in the same period last year. Production taxes decreased $0.22 per Mcfe, or 63%, because of a $2.4 million increase in the aforementioned production tax credits. O&M expense decreased $0.07 per Mcfe, or 11%, because of decreases in salt water disposal and chemical treating expense. Ad valorem taxes decreased $0.03 per Mcfe, or 21%, because of a decrease in property valuations for our oil and natural gas properties.

Increased production volumes more than offset higher stock compensation and payroll costs and resulted in our per unit G&A expense decreasing by 3% to $0.59 per Mcfe in the first nine months 2007. Roughly 62% of the increase in compensation expense was attributable to an increase in non-cash share-based compensation expense under FAS 123(R).

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Our depletion expense for the first nine months 2007 was $45.3 million ($3.85 per Mcfe) compared to $33.3 million ($3.41 per Mcfe) in the first nine months of last year. Increased production volumes accounted for 57% of the increase, while an increase in our depletion rate accounted for the remaining 43% of the increase. The increase in our depletion rate was primarily a result of an increase in the cost of reserve additions.

In the second quarter 2007, we recorded a $6.5 million non-cash ceiling test impairment charge ($4.1 million after-tax) on our oil and gas properties, which impacted our first nine months 2007 results. A ceiling test impairment is recorded when the capitalized cost of our oil and gas properties exceeds the present value (10% per annum discount rate) of estimated future net cash flows based on commodity prices at the end of the reporting period plus certain unevaluated property costs. Commodity spot prices at the end of June 2007 for Henry Hub natural gas and West Texas intermediate crude oil were $6.80 per Mcf and $70.47 per barrel.

Our operating income, impacted by the ceiling test impairment charge, declined to $23.1 million in the first nine months 2007 from $26.2 million in the first nine months 2006.

Our net interest expense for the first nine months 2007 increased by $4.2 million from the comparable period last year. This increase was primarily due to our higher weighted average debt outstanding and our higher weighted average interest cost associated with our senior notes that were issued in April 2006 and April 2007. Our weighted average debt outstanding for the first nine months of this year was $183.2 million versus $114.1 million for the comparable period last year.

We recorded deferred income tax expense of $5.2 million in the first nine months of this year compared to deferred income tax expense of $10.0 million in the first nine month of last year. Lower taxes were attributable to both a decrease in income before taxes and the adjustment of our 2006 income tax accrual.

Our reported net income for the first nine months 2007 was $8.4 million ($0.18 per diluted share) versus net income of $14.8 million ($0.33 per diluted share) for the same period last year. Our after-tax earnings in the first nine months 2007 without the effect of our unrealized derivative losses and ceiling test impairment charge were $14.3 million ($0.31 per diluted share) and our after-tax earnings in the first nine months 2006 excluding both unrealized derivative losses and non-cash gains associated with the ineffective portion of our cash flow hedges were $13.0 million ($0.29 per diluted share). After-tax earnings excluding the above items is a non-GAAP measure and a reconciliation of GAAP net income to after-tax earnings excluding the above items is included in our accompanying financial tables found later in this release.

The table below lists our oil and gas capital expenditures.

	Nine months ended June 30,
	2007		2006
	(in thousands)
Drilling	$	71,068	$	106,931
Net land and G&G		9,969		24,244
Capitalized costs		8,849		7,273
Capitalized FAS 143 ARO		325		395
Total oil and gas capital expenditures (a)	$	90,211	$	138,843

(a)   Excludes the impact of our September 1, 2007 Anadarko Basin Granite Wash asset sale.

FOURTH QUARTER 2007 FORECASTS

The following forecasts and estimates of our fourth quarter 2007 production volumes are forward looking statements subject to the risks and uncertainties identified in the "Forward Looking Statements Disclosure" at the end of this release. We currently expect our fourth quarter 2007 production volumes to average between 33 MMcfe per day and 37 MMcfe per day.

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For the fourth quarter 2007, lease operating expenses are projected to be $0.89 per Mcfe based on the mid-point of our production guidance, production taxes are projected to be 3.25% to 3.5% of pre-hedge oil and natural gas revenues, and general and administrative expenses are projected to be $2.4 million ($0.80 to $0.71 per Mcfe).

MANAGEMENT COMMENTS

Gene Shepherd, Brigham's Chief Financial Officer commented, "Overall, we are pleased with our third quarter 2007 results, which were positively impacted by 20% higher production volumes and reductions in both lease operating and production tax expense. Furthermore, the recently completed Anadarko Basin Granite Wash asset sale significantly enhances the company's liquidity as we begin to lay out a capital expenditure plan for 2008. Unfortunately, our fourth quarter production guidance reflects the impact of our Anadarko Basin Granite Wash asset sale, the pause in our Vicksburg rig line and the natural decline in our Bayou Postillion Southern Louisiana wells. Our first quarter 2008 production volumes should be positively impacted by the late year resumption of our Vicksburg rig line, and the results from both our fourth quarter Mountrail County Bakken wells and our two high impact Southern Louisiana exploration wells."

"At the present time, we are formulating our 2008 capital expenditure budget and expect that our 2008 budget will likely increase relative to 2007, subject to commodity prices. Consistent with recent budgets, the continuation of what is largely development drilling in the Vicksburg will constitute a significant portion of the 2008 budget. In addition, we anticipate that Mountrail county Bakken drilling will also comprise a significant portion of our 2008 budget."

CONFERENCE CALL INFORMATION

Our management will host a conference call to discuss our operational and financial results for the third quarter 2007 with investors, analysts and other interested parties on Wednesday, November 7, 2007, at 10:00 a.m. eastern time. To participate in the call, participants within the U.S. please dial 866-314-9013 and participants outside the U.S. please dial 617-213-8053. The participant passcode for the call is 66867057. A telephone recording of the conference call will be available to interested parties approximately two hours after the call is completed through 12:00 p.m. eastern time on Friday, December 7, 2007. To access the recording, domestic callers dial 888-286-8010 and international callers dial 617-801-6888. The passcode for the conference call playback is 63514168. In addition, a live and archived web cast of the conference call will be available over the Internet at either http://www.bexp3d.com or http://www.streetevents.com.

A copy of this press release and other financial and statistical information about the periods covered by this press release and by the conference call that will take place on November 7, 2007, will be available on our website. To access the press release: go to http://www.bexp3d.com and click on News Releases. The file with a copy of the press release is named Brigham Exploration Reports Third Quarter 2007 Results and Provides Fourth Quarter 2007 Forecasts and is dated November 6, 2007. To access the other financial and statistical information that will be covered by the conference call that will take place on November 7, 2007, go to http://www.bexp3d.com and click on Event Calendar. The file with the other financial and statistical information is named Financial and Statistical Information for the Third Quarter 2007 Conference Call and is dated November 7, 2007.

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 domestic natural gas and oil provinces. For more information about Brigham Exploration, please visit our website at http://www.bexp3d.com or contact Investor Relations 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 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 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 and 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.

Contact:      Rob Roosa, Finance Manager (512) 427-3300

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BRIGHAM EXPLORATION COMPANY

SUMMARY CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data) (unaudited)

	Three months ended						Nine months ended
	September 30,						September 30,
	2007			2006			2007			2006
Revenues:
Oil and natural gas sales	$	29,481		$	24,487		$	92,250		$	74,977
Hedging settlements		1,975			1,380			3,405			2,621
		31,456			25,867			95,655			77,598
Unrealized hedging gains/ losses		(327	)		99			(2,985	)		(288	)
		31,129			25,966			92,670			77,310
Other revenue		17			57			73			87
Total revenue		31,146			26,023			92,743			77,397
Costs and expenses:
Lease operating		2,564			2,672			8,458			7,938
Production taxes		951			1,259			1,573			3,455
General and administrative		2,514			1,985			6,973			5,936
Depletion of oil and natural gas properties		14,776			11,910			45,347			33,272
Impairment of oil and natural gas properties		—			—			6,505			—
Depreciation and amortization		147			140			468			376
Accretion of discount on asset retirement obligations		87			80			298			229
		21,039			18,046			69,622			51,206
Operating income		10,107			7,977			23,121			26,191
Other income (expense):
Interest expense, net		(3,976	)		(2,669	)		(11,071	)		(6,899	)
Interest income		271			518			536			1,072
Other income (expense)		105			2,507			1,007			4,394
		(3,600	)		356			(9,528	)		(1,433	)
Income before income taxes		6,507			8,333			13,593			24,758
Income tax expense:
Current		—			—			—			—
Deferred		(2,324	)		(3,087	)		(5,227	)		(9,971	)
		(2,324	)		(3,087	)		(5,227	)		(9,971	)
Net income	$	4,183		$	5,246		$	8,366		$	14,787
Net income per share available to common stockholders:
Basic	$	0.09		$	0.12		$	0.19		$	0.33
Diluted	$	0.09		$	0.12		$	0.18		$	0.33
Weighted average shares outstanding:
Basic		45,123			45,027			45,085			45,005
Diluted		45,477			45,294			45,490			45,451

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BRIGHAM EXPLORATION COMPANY

PRODUCTION, SALES PRICES AND OTHER FINANCIAL DATA

(unaudited)

	Three months ended September 30,						Nine months ended September 30,
	2007			2006			2007			2006
Average net daily production:
Natural gas (MMcf)		37.0			29.1			37.0			28.8
Oil (Bbls)		1,078			1,166			1,104			1,220
Equivalent natural gas (MMcfe) (6:1)		43.4			36.1			43.6			36.2
Total net production:
Natural gas (MMcf)		3,327			2,616			9,997			7,789
Oil (MBbls)		97			105			298			330
Equivalent natural gas (MMcfe) (6:1)		3,909			3,245			11,784			9,766
% Natural gas		85	%		81	%		85	%		80	%
Sales price:
Natural gas ($/Mcf)	$	6.71		$	6.48		$	7.23		$	6.78
Oil ($/Bbl)		73.65			71.86			66.95			67.22
Equivalent natural gas ($/Mcfe) (6:1)		7.54			7.55			7.83			7.68
Sales price including derivative settlement gains (losses):
Natural gas ($/Mcf)	$	7.31		$	6.99		$	7.56		$	7.12
Oil ($/Bbl)		73.43			72.36			67.26			67.22
Equivalent natural gas ($/Mcfe) (6:1)		8.05			7.97			8.12			7.95
Sales price including derivative settlement gains (losses) and unrealized gains (losses):
Natural gas ($/Mcf)	$	7.31			NA		$	7.34			NA
Oil ($/Bbl)		70.35			NA			64.60			NA
Equivalent natural gas ($/Mcfe) (6:1)		7.96			NA			7.86			NA

SUMMARY CONSOLIDATED BALANCE SHEETS

(in thousands)

	September 30, 2007		December 31, 2006
Assets:	(unaudited)
Current assets	$	34,062	$	31,218
Oil and natural gas properties, net (full cost method)		487,832		485,525
Other property and equipment, net		1,072		936
Other non-current assets		5,504		4,908
Total assets	$	528,470	$	522,587
Liabilities and stockholders' equity:
Current liabilities	$	38,085	$	57,453
Senior notes		158,432		123,434
Senior credit facility		—		25,900
Mandatorily redeemable preferred stock, Series A		10,101		10,101
Deferred income tax liability		38,394		34,609
Other taxes payable		2,159		—
Other non-current liabilities		5,034		5,075
Total liabilities	$	252,205	$	256,572
Stockholders' equity		276,265		266,015
Total liabilities and stockholders' equity	$	528,470	$	522,587

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BRIGHAM EXPLORATION COMPANY

SUMMARY CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands) (unaudited)

	Three months ended September 30,						Nine months ended September 30,
	2007			2006			2007			2006
Cash flows from operating activities:
Net income	$	4,183		$	5,246		$	8,366		$	14,787
Depletion, depreciation and amortization		14,923			12,050			45,815			33,648
Impairment of oil and gas properties		—			—			6,505			—
Accretion of discount on ARO		87			80			298			229
Amortization of deferred loan fees and debt issuance costs		252			205			713			1,473
Non-cash stock compensation		617			291			1,455			1,134
Market value adjustments for derivatives instruments		327			(2,436	)		2,985			(2,926	)
Deferred income tax expense		2,324			3,087			5,227			9,971
Other noncash items		(4	)		—			(4	)		64
Changes in operating assets and liabilities		3,367			(3,682	)		1,992			15,915
Cash flows provided by operating activities	$	26,076		$	14,841		$	73,352		$	74,295
Cash flows used by investing activities		(1,673	)		(13,272	)		(75,163	)		(126,139	)
Cash flows (used) provided by financing activities		(26,190	)		(3	)		8,007			57,483
Net increase (decrease) in cash and cash equivalents	$	(1,787	)	$	1,566		$	6,196		$	5,639

SUMMARY PER MCFE DATA

(unaudited)

	Three months ended September 30,						Nine months ended September 30,
	2007			2006			2007			2006
Revenues:
Oil and natural gas sales	$	7.54		$	7.55		$	7.83		$	7.68
Hedge settlements		0.51			0.43			0.29			0.27
Unrealized hedge gains (losses)		(0.08	)		0.03			(0.25	)		(0.03	)
Other revenue		0.00			0.02			0.01			0.01
	$	7.97		$	8.03		$	7.88		$	7.93
Costs and expenses:
Lease operating		0.66			0.82			0.72			0.81
Production taxes		0.24			0.39			0.13			0.35
General and administrative		0.64			0.61			0.59			0.61
Depletion of oil and natural gas properties		3.78			3.67			3.85			3.41
Impairment of oil and natural gas properties		0.00			0.00			0.55			0.00
Depreciation and amortization		0.04			0.04			0.04			0.04
Accretion of discount on ARO		0.02			0.02			0.03			0.02
	$	5.38		$	5.55		$	5.91		$	5.24
Operating income	$	2.59		$	2.48		$	1.97		$	2.69
Interest expense, net of interest income (a)		(0.95	)		(0.66	)		(0.89	)		(0.60	)
Other income (expense) (b)		0.03			0.05			0.09			0.12
Adjusted income	$	1.67		$	1.87		$	1.17		$	2.21

(a) Calculated as interest expense minus interest income divided by production for period.

(b) Excludes non-cash gains/(losses) arising from hedge accounting for certain of our oil and natural gas hedges.

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BRIGHAM EXPLORATION COMPANY

RECONCILIATION OF GAAP NET INCOME TO AFTER-TAX EARNINGS

EXCLUDING THE EFFECT OF CERTAIN ITEMS

(in thousands)

	Three months ended September 30,						Nine months ended September 30,
	2007			2006			2007			2006
Net income (loss) as reported	$	4,183		$	5,246		$	8,366		$	14,787
Unrealized derivative (gains) losses		327			(99	)		2,985			288
Unrealized derivative (gains) losses on ineffective hedges		—			(2,336	)		—			(3,213	)
Impairment of oil and natural gas properties		—			—			6,505			—
Tax impact		(117	)		902			(3,541	)		1,178
Earnings excluding the effect of certain items	$	4,393		$	3,713		$	14,315		$	13,040

Earnings without the effect of certain items represents net income excluding the following: unrealized gains and losses on derivative contracts; unrealized gains and losses related to ineffectiveness on our derivatives that were previously classified as cash flow hedges; and our non-cash impairment charge on our oil and gas properties. Management believes that exclusion of these items enhances comparability of operating results between periods.

SUMMARY OF COMMODITY PRICE HEDGES OUTSTANDING AS OF NOVEMBER 5, 2007

(unaudited)

		Hedge	2007		2008								2009
		Strategy	Q4		Q1		Q2		Q3		Q4		Q1		Q2
Natural Gas Collars:
Daily volumes	MMBtu/d			16,739		12,857		8,242		7,826		543		—		—
Floor	$/MMBtu	Cash flow	$	7.698	$	8.203	$	6.980	$	6.948	$	7.250	$	—	$	—
Cap	$/MMBtu	Cash flow	$	12.242	$	13.574	$	9.735	$	9.843	$	10.400	$	—	$	—
Natural Gas Three Way Costless Collars:
Daily volumes	MMBtu/d			—		—		—		—		1,630		1,667		—
Floor	$/MMBtu	Cash flow	$	—	$	—	$	—	$	—	$	8.00	$	8.00	$	—
Cap	$/MMBtu	Cash flow	$	—	$	—	$	—	$	—	$	5.50	$	5.50	$	—
Written put	$/MMBtu	Undesignated	$	—	$	—	$	—	$	—	$	10.35	$	10.35	$	—
Oil Collars:
Daily volumes	Bbls/d			603		478		385		272		228		100		99
Floor	$/Bbl	Cash flow	$	59.83	$	60.61	$	61.55	$	61.65	$	59.96	$	62.00	$	62.00
Cap	$/Bbl	Cash flow	$	83.87	$	84.15	$	81.45	$	81.66	$	79.50	$	81.75	$	81.75

Hedged volumes and prices reflected in this table represent average contract amounts for the quarterly periods presented; natural gas hedge prices and crude oil hedge contract prices are based on NYMEX pricing.

SOURCE	Brigham Exploration Company
-0-	11/06/2007
/CONTACT:	Rob Roosa, Finance Manager of Brigham Exploration Company, +1-512-427-3300/
/First Call Analyst: /
/FCMN Contact: /
/Web site: http://www.bexp3d.com /
(BEXP)
CO: Brigham Exploration Company ST: Texas IN: OIL SU: ERN ERP CCA

EX-99.2

NEWS RELEASE FOR IMMEDIATE RELEASE

BRIGHAM EXPLORATION ANNOUNCES COMMENCEMENT OF MOUNTRAIL COUNTY, ND BAKKEN DRILLING PROGRAM AND PROVIDES OPERATIONAL UPDATE

Austin, TX - November 6, 2007 -- Brigham Exploration Company (NASDAQ: BEXP) announced the commencement of drilling in its growing Mountrail County North Dakota horizontal Bakken play, and provided an operational update.

SIGNIFICANT WELLS RECENTLY COMPLETED, COMPLETING, DRILLING OR PREPARING TO DRILL

Conventional Wells	Objective	WI%	NRI	Status / Comments
Blue Heron #1	Oligocene	40%	29%	Drilling @ ~ 14,660’ targeting 3-D delineated fault trap adjacent to production with total depth est. of 15,090’
Robin #1	Oligocene	40%	29%	Planned November spud to test 3-D delineated fault trap with shallow production, est. total depth of 14,452’
Randall Unit #2	Frio	94%	74%	Commencing step out proximal to good Frio production, est. total depth of 14,800’, 15 Bcfe unrisked potential
Richardson 25 #1	Red River	90%	68%	Commencing Sheridan Co., Montana Red River test, estimated total depth of 11,100’
Sullivan C-38	Vicksburg	Est. 100%	Est. 76%	Planned December spud to attempt to extend prolific Floyd Field to the north, estimated total depth of 14,000’

Resource Plays	Objective	WI%	NRI	Status / Comments
Bergstrom Family Trust 26 #1H	Bakken	57%	44%	Drilling @ ~5,800’, 1st operated Mountrail Co., ND horizontal Bakken well, ~ 6.5 miles NE of Parshall Field discoveries and ~ 6 miles SE of EOG Austin discoveries
Bakke 23 #1H	Bakken	88%	72%	Building location to spud Mountrail Co., ND horizontal Bakken well ~ 12 miles west of EOG Austin discoveries
Hynek 2 #1H	Bakken	97%	78%	Building location to spud Mountrail Co., ND horizontal Bakken well located ~ 6 miles west of Bakke 23 #1H
Risan 1-34H	Bakken	1.3%	1.1%	Brigham’s 1st Mountrail County, ND horizontal Bakken discovery, located in Parshall Field
Hess En-Hegland ###-##-####H-1	Bakken	1.0%	0.8%	Completing Mountrail Co., ND horizontal Bakken well located 4.5 miles east of Nesson Anticline after encountering good shows
Petrohunt Torgerson 15B-2-2H	Bakken	1.7%	1.4%	Completing Mountrail Co., ND well with good Bakken shows, well located 15 miles north of En-Hegland
Krejci Fed. #1-32H	Mowry	50%	40%	November spud of next horizontal well utilizing best practices including swell packers

Vicksburg Development Drilling - Brigham's interpretation of its recently reprocessed 3-D seismic data over its Home Run, Floyd and Triple Crown Fields is progressing. The company released its rig in August, in order to integrate the interpretation of its newly reprocessed 3-D seismic data with recent well results to delineate an optimal development plan. As a result of this work, two new Vicksburg wells have been proposed, and two additional wells will be proposed in the next two weeks. In December, Brigham plans to recommence its continuous drilling in the Vicksburg with the spudding of the Sullivan C-38. The Sullivan C-38 is a 14,000 foot development well that, if successful, could extend the prolific Floyd Fault Block Field.

Williston Basin Mountrail County North Dakota Area Activity - To date, Brigham's Mountrail County drilling has been limited to its participation with very small working interests in horizontal Bakken wells drilled by other operators, providing beneficial information on drilling and completion techniques being utilized. However, Brigham is currently drilling its first operated Mountrail County Bakken well, the Bergstrom Family Trust 26 #1H, at a depth of approximately 5,800 feet. The Bergstrom Family Trust 26 #1H is located approximately 6.5 miles northeast of the Parshall Field, and approximately 6 miles southeast of EOG's recently announced discoveries, the Austin #1-02H and the Austin #2-03H wells. Brigham plans to drill the Bergstrom Family Trust 26 #1H to the Bakken at a depth of roughly 8,350 feet, and to subsequently drill a 4,500 foot lateral. Brigham plans to complete the well utilizing swell packers and other operational techniques that have generated strong recent completions in the area.

Page 2

Brigham is currently building locations and preparing to spud two additional operated wells. The Bakke 23 #1H will be drilled approximately 12 miles west of EOG's recent Austin #1-02H completion, while the Hynek 2 #1H will be drilled roughly six miles west of the Bakke 23 #1H. Brigham plans to utilize swell packers and complete these wells with procedures similar to the Bergstrom Family Trust. Results for all three Brigham operated Mountrail County horizontal Bakken wells are expected during the first quarter 2008.

Brigham has grown its total acreage in Mountrail County North Dakota and the surrounding areas to approximately 42,600 net acres. Approximately 28,600 acres are located in Mountrail County, while approximately 14,000 acres are located in extensional areas where horizontal Bakken wells have yet to be drilled. Based primarily on pending leasehold acquisitions, Brigham expects its total acreage in the Mountrail County area Bakken play to grow to approximately 60,000 net acres.

Bud Brigham, the Chairman, President and CEO stated, "We are pleased with the rapid growth in our acreage position in the Mountrail County area and the opportunity it provides to complement our conventional exploration and development drilling with a low risk, repeatable unconventional drilling program. Given the growing number of successful horizontal Bakken completions in the Mountrail County area by other operators, we are optimistic that this play will provide us with such an inventory. In the eastern portion of Mountrail County, approximately 22 recent horizontal Bakken wells have been completed with recent average initial production rates of over 1,000 barrels of oil per day. To date we have approximately 4,600 net acres in this general area, which provides us with seven to fourteen net locations, assuming 640 acre and 320 acre spacing, respectively."

"We control approximately 24,000 net acres to the west of the Parshall Field area, but to the east of the Nesson anticline. Although this is a large area and fewer wells have been drilled to date, the early results indicate that this area also provide attractive drilling economics. In addition, we believe our 14,000 acres in extensional areas also have the right attributes to provide attractive drilling economics, although this acreage is in areas that have yet to experience horizontal Bakken drilling. We'll likely commence drilling in these areas early in 2008."

"Based on the drilling that has taken place in each of these areas, the strongest producers are among the most recent wells drilled, which we believe indicates that operators are finding more optimal operational techniques for drilling and completing these wells. Inclusive of our acreage in the extensional areas, our current 42,600 acres east of the Nesson anticline in Mountrail County, North Dakota and the surrounding area, provides us with the potential to drill 66 to 133 net wells, depending on the ultimate spacing."

2007 OPERATIONAL SUMMARY

Thus far in 2007, Brigham has spud twenty wells, retaining an average working interest of approximately 51%. Fourteen of these wells have been or are currently being completed, four are currently drilling and two have been plugged. Brigham's gross and net completion rates thus far in 2007 are 88% and 94% respectively.

Bud Brigham concluded, "Although we expect the unusual gap in our well completions to generate lower production during the fourth quarter, accelerating activity in the field with our drilling program, including the resumption of our continuous drilling in the Vicksburg later this quarter, should generate a resumption of our growth in production volumes during the first quarter of 2008. Further, our three horizontal wells soon to be drilling in Mountrail County, North Dakota, combined with our next horizontal Mowry well in the Powder River Basin, could have a substantial impact on our shareholder net asset value as we exit the year."

Thus far in 2007, Brigham has spud twenty wells, retaining an average working interest of approximately 51%. Fourteen of these wells have been or are currently being completed, four are currently drilling and two have been plugged. Brigham's gross and net completion rates thus far in 2007 are 88% and 94% respectively.

Bud Brigham concluded, “Although we expect the unusual gap in our well completions to generate lower production during the fourth quarter, accelerating activity in the field with our drilling program, including the resumption of our continuous drilling in the Vicksburg later this quarter, should generate a resumption of our growth in production volumes during the first quarter of 2008. Further, our three horizontal wells soon to be drilling in Mountrail County, North Dakota, combined with our next horizontal Mowry well in the Powder River Basin, could have a substantial impact on our shareholder net asset value as we exit the year.”

About Brigham Exploration

Brigham Exploration Company is a leading 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. For more information about Brigham Exploration, please visit our website at http://www.bexp3d.com or contact Investor Relations at 512-427-3444.

Page 3

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 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 and 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.

CONTACT: Rob Roosa, Finance Manager, +1-512-427-3300

SOURCE	Brigham Exploration Company
-0-	11/06/2007
/CONTACT:	Rob Roosa, Finance Manager of Brigham Exploration Company, +1-512-427-3300/
/First Call Analyst: /
/Web site: http://www.bexp3d.com /
(BEXP)
CO: Brigham Exploration Company ST: Texas, Oklahoma IN: OIL SU: