EXHIBIT 99.1
[LOGO] BRIGHAM EXPLORATION COMPANY NEWS RELEASE
FOR IMMEDIATE RELEASE
BRIGHAM ANNOUNCES TWO SUCCESSFUL GULF COAST COMPLETIONS, INCLUDING HIGH RATE
HOME RUN FIELD DEVELOPMENT WELL
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Austin, TX -- (Business Wire) - August 22, 2000 -- Brigham Exploration
Company (NASDAQ:BEXP) today announced initial production results for two Texas
Gulf Coast wells recently completed in its Diablo Project in the Home Run Field
and in its Caliente Project.
VICKSBURG COMPLETION AT HOME RUN FIELD
As previously disclosed, Brigham recently drilled its first development
well at its Home Run Field in Brooks County, Texas. The Palmer State #3 well was
drilled to a depth of 13,200 feet, encountering the prospective Vicksburg
intervals approximately 130 feet high to the field confirmation well, the
Brigham-operated Palmer State #2. Brigham operates the Palmer State #3 well and
retains a 34% working interest in its Diablo Project. In July, Brigham began the
perforation, fracture stimulation and testing of several Lower Vicksburg pay
intervals, and the Palmer State #3 began flowing to sales on August 8th.
Currently, the well is producing at a rate of 12.3 MMcf of natural gas and 450
barrels of condensate per day, or 15.0 MMcfe total (4.4 MMcfe net to Brigham's
29% revenue interest), with a flowing tubing pressure of 5,650 psi.
The initial production results of the Palmer State #3 compare favorably
to the Palmer State #2, which paid out approximately three months after its
commingled completion. The Palmer State #2 began producing to sales at
approximately 12.3 MMcf of natural gas and 650 barrels of condensate per day
with flowing tubing pressure of 5,050 psi in late February 2000. Based on
Brigham's current interpretation, the next two planned development wells should
both encounter the Vicksburg section structurally high to the Palmer State #2,
one of which is expected to target the crestal location structurally high to the
Palmer State #3. In addition to the Palmer State #2 and #3 wells, Brigham
estimates that the Home Run Field will require a minimum of five and possibly
more than ten wells to fully develop the fault block.
Brigham also plans to spud an exploratory test of a fault block located
immediately adjacent to the Home Run Field that has produced approximately 180
Bcfe from the shallower Frio interval. This well will test the Vicksburg
formation on a structure with estimated gross unrisked reserve potential of
approximately 170 Bcfe.
WILCOX DISCOVERY IN CALIENTE PROJECT
In its Caliente Project in Duval County, Texas, Brigham participated in
the successful completion of an Expanded Upper Wilcox discovery. The Dinn #2
well encountered 49 feet of net pay in the Expanded Upper Wilcox, and the well
began producing to sales on August 18th. The Dinn #2 is currently producing at a
rate of approximately 2.0 MMcf of natural gas per day with 3,000 psi flowing
tubing pressure (740 Mcf net to Brigham's 37% revenue interest). Also in its
Caliente Project, Brigham retains a 50% working interest in another high
potential Wilcox exploratory test, the Brigham-operated Lopez Mineral Trust #2,
which is currently drilling at a depth of 5,800 feet and should reach its
primary Wilcox objective by early September.
Including the above mentioned Wilcox well, Brigham currently has 6
gross (3.9 net) wells drilling.
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.
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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.
Contact: Christopher A. Phelps, Vice President - Finance & Strategic Planning
(512) 427-3300 / [email protected]
