-----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, HkGQp4LDkKBYYEpU5WsqfpBgQT7tanUKYkVw/3bmhFBMyg3OQcP/BfTpAD/xzwVh JKGJz7Ci+QC6W2Jie35qlA== 0001275287-06-006341.txt : 20061205 0001275287-06-006341.hdr.sgml : 20061205 20061204183725 ACCESSION NUMBER: 0001275287-06-006341 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20061204 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20061205 DATE AS OF CHANGE: 20061204 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: 061255598 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 be8162.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): December 4, 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)

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:

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 7.01  Regulation FD Disclosure.

          Registrant is furnishing its press release dated December 4, 2006, which announces that it has increased its senior credit facility borrowing base from $50 million to $110 million.  The text of that press release is attached to this Report as Exhibit 99.1 and is incorporated by reference herein.   

          Effective November 27, 2006, Brigham’s borrowing base was reset from $50 million to $110 million in conjunction with its regularly scheduled semi-annual borrowing base redetermination.  In April 2006, Brigham’s borrowing base had been reset from $90 million to $50 million in connection with the sale of its 9 5/8% senior notes due 2014. 

          The senior credit agreement contains customary restrictions and covenants. Pursuant to the senior credit agreement, Brigham is required to maintain a current ratio of at least 1 to 1 and an interest coverage ratio (as those ratios are defined in the senior credit agreement) for the four most recent quarters of at least 3 to 1.

Item 9.01  Financial Statements and Exhibits.

           (d)     Exhibit 99.1       Press release dated December 4, 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: December 4, 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 December 4, 2006

4


EX-99.1 2 be8162ex991.htm EXHIBIT 99.1

Exhibit 99.1

Brigham Exploration Announces an Increase in Its Senior Credit Facility
Borrowing Base

          AUSTIN, Texas, Dec. 4 /PRNewswire-FirstCall/ -- Brigham Exploration Company (Nasdaq: BEXP) today announced that it has increased its senior credit facility borrowing base from $50 million to $110 million.

          BORROWING BASE RESET TO $110 MILLION

          Effective November 27, 2006, Brigham’s borrowing base was reset from $50 million to $110 million in conjunction with its regularly scheduled semi- annual borrowing base redetermination.  In April 2006, Brigham’s borrowing base had been reset from $90 million to $50 million in connection with the sale of its 9 5/8% senior notes due 2014.

           The senior credit agreement contains customary restrictions and covenants. Pursuant to the senior credit agreement, Brigham is required to maintain a current ratio of at least 1 to 1 and an interest coverage ratio (as those ratios are defined in the senior credit agreement) for the four most recent quarters of at least 3 to 1.

          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 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 including 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, 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

SOURCE  Brigham Exploration Company
           -0-                                                        12/04/2006
           /CONTACT:  Rob Roosa, Finance Manager of Brigham Exploration Company, +1-512-427-3300/
           /Web site:  http://www.bexp3d.com /


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