-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, G5I+gqe8dVVA4dZOvhzpv2TzCp8ioAL9nVO5HeJwGOYkQFNjnNe/ZI5CupRSF4Q4 GOySIYyCg/mWQdh0HiRdNg== 0001275287-06-001519.txt : 20060321 0001275287-06-001519.hdr.sgml : 20060321 20060321154046 ACCESSION NUMBER: 0001275287-06-001519 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060321 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060321 DATE AS OF CHANGE: 20060321 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BRIGHAM EXPLORATION CO CENTRAL INDEX KEY: 0001034755 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 752692967 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22433 FILM NUMBER: 06701287 BUSINESS ADDRESS: STREET 1: 6300 BRIDGE POINT PARKWAY STREET 2: BLDG 2 SUITE 500 CITY: AUSTIN STATE: TX ZIP: 78730 BUSINESS PHONE: 5124273300 MAIL ADDRESS: STREET 1: 6300 BRIDGE POINT PARKWAY STREET 2: BLDG 2 SUITE 500 CITY: AUSTIN STATE: TX ZIP: 78730 8-K 1 be5196.htm FORM 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): March 21, 2006

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)

Registrants 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:

 

 

o

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

 

 

o

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

 

 

o

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

 

 

o

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 March 21, 2006, which announces discoveries and provides operational update.  The text of the press release is furnished as attached hereto as Exhibit 99.1. 

Item 7.01  Regulation FD Disclosure.

          Registrant is furnishing its press release dated March 21, 2006, which announces discoveries and provides operational update.  The text of the press release is furnished as attached hereto as Exhibit 99.1. 

Item 9.01  Financial Statements and Exhibits.

          (d)     Exhibit 99.1     Press release dated March 21, 2006.

2



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:  March 21, 2006

 

 

 

 

 

 

By:

/s/ EUGENE B. SHEPHERD, JR.

 

 


 

 

Eugene B. Shepherd, Jr.

 

 

Executive Vice President &

 

 

Chief Financial Officer

3



INDEX TO EXHIBITS

Item Number

 

Exhibit


 


99.1*

 

Press Release dated March 21, 2006.

4


EX-99.1 2 be5196ex991.htm EXHIBIT 99.1

Exhibit 99.1

Brigham Exploration Announces Discoveries

          AUSTIN, Texas, March 21 /PRNewswire-FirstCall/ -- Brigham Exploration Company (Nasdaq: BEXP) announces successful Vicksburg, Frio and Granite Wash completions, an apparent Frio exploration discovery, and the planned commencement of its first Bakken horizontal well in North Dakota.

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

Well

 

Objective

 

Category

 

WI%

 

NRI

 

Status / Comments


 


 


 


 


 


Palmer #11

 

Vicksburg

 

Dev

 

100

%

80

%

Completed from lower intervals @ 3.9 MMcfed, will add other potential pay zones

 

 

 

 

 

 

 

 

 

 

 

Hobart 60-4

 

Gr. Wash

 

Dev

 

98

%

80

%

Completed @ initial rate of 4.1 MMcfed

 

 

 

 

 

 

 

 

 

 

 

Grisham #1

 

Lwr Frio

 

Dev

 

50

%

40

%

Completed upper pay zone @ initial rate of 3.4 MMcfed, will commingle deeper pays

 

 

 

 

 

 

 

 

 

 

 

State Tract 266 #1

 

Frio

 

Dev

 

75

%

56

%

Completed @ 0.3 MMcfed from 10’ apparent Middle Frio pay, potential 32’ shallower pay behind pipe

 

 

 

 

 

 

 

 

 

 

 

Sartwelle #4

 

Frio

 

Exp/Dev

 

75

%

53

%

Currently completing after encountering 22’ of apparent net pay in the Middle Frio

 

 

 

 

 

 

 

 

 

 

 

Pitre-Todd Ent. #1

 

Hackberry

 

Exp

 

25

%

19

%

S. Louisiana test @ total depth of 10,000’, logging after encountering no drilling shows

 

 

 

 

 

 

 

 

 

 

 

Mills Ranch #1-99S

 

Hunton

 

Dev

 

93

%

63

%

Currently drilling @ 17,740’, targeting Hunton @ 21,200’, results expected in June

 

 

 

 

 

 

 

 

 

 

 

Mills Ranch 96 #1

 

Hunton

 

Dev

 

69

%

57

%

Currently drilling @ 3,500’, targeting Hunton @ 24,500’, results expected in September

 

 

 

 

 

 

 

 

 

 

 

Dawson #3

 

Vicksburg

 

Dev

 

100

%

75

%

Setting intermediate @ 10,400’, est. total depth of 12,000’, results expected in April

 

 

 

 

 

 

 

 

 

 

 

Hobart 59-2

 

Gr. Wash

 

Dev

 

99

%

81

%

Currently drilling @ 10,500’, targeting total depth of 12,800’, results expected in April

 

 

 

 

 

 

 

 

 

 

 

Wyse #2

 

Lwr Frio

 

Dev

 

50

%

39

%

Currently drilling @ 4,800’, est. total depth of 14,200’, results expected in May

 

 

 

 

 

 

 

 

 

 

 

Cotten Land #1

 

Oligocene

 

Dev/Exp

 

43

%

30

%

Expect to spud S. Louisiana well offsetting 10 MMcfed well this week

 

 

 

 

 

 

 

 

 

 

 

Williams North #1

 

Bakken

 

Exp

 

100

%

78

%

First horizontal well expected to commence in April

 

 

 

 

 

 

 

 

 

 

 

Trull B #3

 

Lwr Frio

 

Exp

 

75

%

55

%

High reserve potential well expected to commence in April

 

 

 

 

 

 

 

 

 

 

 

Derek #3

 

Douglas

 

Dev

 

91

%+

73

%+

1st of numerous potential wells offsetting a recent well that produced @ 0.7 MMcfed

 

 

 

 

 

 

 

 

 

 

 

C. Broadcasting #1

 

Yegua, etc.

 

Exp

 

33

%

25

%

Planned May spud of S. Louisiana potential multi pay bright spot test of Leuthen Prospect

 

 

 

 

 

 

 

 

 

 

 

Kinder Canal Co. #1

 

Yegua, etc.

 

Exp

 

24

%

18

%

Planned June spud of S. Louisiana bright spot test of Plassey Prospect




          Gulf Coast Vicksburg Trend

          Home Run Field - Brigham completed the Palmer #11 from the lowest 28 feet of apparent pay in the Vicksburg at an initial rate of approximately 2.9 MMcf of natural gas and 174 barrels of condensate (3.9 MMcfe) per day.  An additional 70 feet of shallower apparent Vicksburg pay remains behind pipe, which Brigham expects to perforate, stimulate and commingle with the currently producing intervals within the next several months.  Brigham retained a 100% working interest in the Palmer #11.

          Gulf Coast Frio Trend

          Bayou Bengal Project Wells - Brigham is currently completing the Sartwelle #4, which encountered approximately 22 feet of apparent net pay in the Middle Frio at depths between 9,220 - 10,065 feet.  Provided the completion is successful, at least one additional well would likely be drilled in this 320 acre fault block.  In addition, a successful completion of the Sartwelle #4 would significantly reduce the risk of several adjacent fault blocks, covering approximately 800 acres.

          Bouldin Lake Field - Brigham perforated and stimulated upper apparent pay intervals in the Lower Frio Anomalina of the Grisham #1, which recently commenced production to sales at an initial rate of approximately 2.6 MMcfg and 139 barrels of oil (3.4 MMcfe) per day with strong flowing tubing pressures.  Late in 2005 the Grisham #1 was completed in deeper Anomalina pay intervals, which were producing approximately 2.0 MMcfe per day prior to commencing operations to add perforations in shallower Anomalina pay intervals.  The operation was commenced early in the first quarter, but due to an apparent obstruction, which has now been cleared, the well was off line for the majority of the first quarter.  Brigham expects to commingle the currently producing intervals with the deeper intervals within the next several weeks. Brigham operated the drilling and completion of the Grisham #1 with a 50% working interest.  Penn Virginia (NYSE: PVA) also retains a 50% working interest, and will take over operations for the production of the well in April.

          Brigham has commenced its third Bouldin Lake Field well, the Wyse #2.  The Wyse #2 is expected to encounter the productive intervals found in the Wyse #1 discovery well approximately 250 feet structurally higher.  Brigham operates the Wyse #2 with a 50% working interest, with Penn Virginia also participating with a 50% working interest.   Results for the Wyse #2 are expected in May.

          WILLISTON BASIN BAKKEN PLAY UPDATE

          Brigham previously announced the acquisition of approximately 46,000 net acres in the Bakken play located in 126 sections in northwestern North Dakota. Brigham acquired a 100% working interest in the Bakken formation within the acreage.  The company expects its North Dakota and Montana acreage position in the play to grow to approximately 75,000 acres by mid-year.

          Brigham expects to commence its first horizontal Bakken test in April. Brigham plans to drill the Field 18-19 to a true vertical depth of approximately 10,600 feet with a projected lateral extension of 9,000 feet. Results for the Field 18-19 are expected in May.  Brigham expects to drill at least three horizontal Bakken wells during 2006.

          2006 OPERATIONAL STATISTICS

          Thus far in 2006 Brigham has spud 10 wells, retaining an average working interest of approximately 75%.  Two of these wells have been completed, two have been plugged and six are currently drilling.

          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.



          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 Private Securities Litigation Reform Act of 1995 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.  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:  John Turner, Director of Finance & Business Development
                         (512) 427-3300

SOURCE  Brigham Exploration Company
          -0-                                        03/21/2006
          /CONTACT:  John Turner, Director of Finance & Business Development of Brigham Exploration Company, +1-512-427-3300/
          /Web site:  http://www.bexp3d.com /


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