SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* SHEPHERD EUGENE B (Last) (First) (Middle) 6300 BRIDGE POINT PARKWAY BLDG 2 SUITE 500 (Street) AUSTIN TX 78730 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol BRIGHAM EXPLORATION CO [ BEXP ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Executive VP and CFO
	3. Date of Earliest Transaction (Month/Day/Year) 11/11/2011
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01 per share	11/11/2011		M		28,000	A	$6.145	75,248	D
Common Stock, par value $0.01 per share	11/11/2011		M		10,750	A	$5.08	85,998	D
Common Stock, par value $0.01 per share	11/11/2011		M		42,000	A	$6.145	159,128	I	See note 1(1)
Common Stock, par value $0.01 per share	11/11/2011		M		16,934	A	$2.2	176,062	I	See note 1(1)
Common Stock, par value $0.01 per share	11/11/2011		M		13,250	A	$5.08	13,250	I	See note 2(2)
Common Stock, par value $0.01 per share	11/11/2011		M		23,066	A	$2.2	36,316	I	See note 2(2)
Common Stock, par value $0.01 per share	11/11/2011		M		108,000	A	$5.955	144,316	I	See note 2(2)
Common Stock, par value $0.01 per share	11/11/2011		M		20,000	A	$19.118	164,316	I	See note 2(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Incentive Stock Option(3)	$6.145	11/11/2011		M			28,000	09/14/2007(4)	09/14/2013	Common Stock	28,000	$0	0	D
Incentive Stock Option(3)	$5.08	11/11/2011		M			10,750	10/10/2009(5)	10/10/2015	Common Stock	10,750	$0	16,000	D
Incentive Stock Option(3)	$6.145	11/11/2011		M			42,000	09/14/2007(4)	09/14/2013	Common Stock	42,000	$0	0	I	See note 1(1)
Incentive Stock Option(3)	$2.2	11/11/2011		M			16,934	04/22/2010(6)	04/22/2019	Common Stock	16,934	$0	0	I	See note 1(1)
Incentive Stock Option(3)	$5.08	11/11/2011		M			13,250	10/10/2009(5)	10/10/2015	Common Stock	13,250	$0	0	I	See note 2(2)
Incentive Stock Option(3)	$2.2	11/11/2011		M			23,066	04/22/2010(6)	04/22/2019	Common Stock	23,066	$0	0	I	See note 2(2)
Incentive Stock Option(3)	$5.955	11/11/2011		M			108,000	08/10/2010(7)	08/10/2019	Common Stock	108,000	$0	0	I	See note 2(2)
Incentive Stock Option(3)	$19.118	11/11/2011		M			20,000	04/29/2010(8)	04/29/2020	Common Stock	20,000	$0	0	I	See note 2(2)

Explanation of Responses:

1. Held in a trust for the benefit of the reporting person's spouse.

2. Held in a trust for the benefit of the reporting person.

3. Employee incentive stock options granted pursuant to 1997 Incentive Plan.

4. The option vested in five equal annual installments beginning on September 14, 2007.

5. The option vests in five equal annual installments beginning on October 10, 2009.

6. The option vests in five equal annual installments beginning on April 22, 2010.

7. The option vests in five equal annual installments beginning on August 10, 2010.

8. The option vests in five equal annual installments beginning on April 29, 2011.

	/s/ Eugene B. Shepherd, Jr.	11/15/2011
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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