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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): April 17, 2000
Brigham Exploration Company
(Exact name of registrant as specified in its ccharter)
Delaware 000-22433 75-2692967
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) 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
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Item 5. Other Events.
On April 17, 2000, Brigham Exploration Company (the "Company") announced
that it has drilled, tested and is currently completing what management believes
to be a significant Springer channel discovery in its Anadarko Basin core
province. In addition, the Company provided an update on its development
drilling activity at the Home Run Field in its Gulf Coast core province.
A copy of the Company's press release providing these announcements is
attached hereto as Exhibit 99.1.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
Item Number Exhibit
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99.1* Press Release dated April 17, 2000.
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* filed herewith.
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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: April 24, 2000 By: /s/ Curtis F. Harrell
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Curtis F. Harrell
Chief Financial Officer
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INDEX TO EXHIBITS
Item Number Exhibit
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99.1 Press Release dated April 17, 2000.
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EXHIBIT 99.1
NEWS RELEASE
[BRIGHAM LOGO] FOR IMMEDIATE RELEASE
BRIGHAM EXPLORATION ANNOUNCES ANADARKO BASIN DISCOVERY
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Austin, TX -- (Business Wire) -- April 17, 2000 -- Brigham Exploration
Company (NASDAQ:BEXP) today announced that it has drilled, tested and is
currently completing a significant Springer channel discovery in its Anadarko
Basin core province, and updated its development activity at the Home Run Field
in its Gulf Coast core province.
Springer Channel Discovery
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The Brigham-operated Springer channel sand test was drilled to a depth of
approximately 10,300 feet and encountered 41 net feet of pay. The pay interval
tested naturally at a flow rate of 5.56 MMcf of natural gas and 450 barrels of
condensate with a flowing tubing pressure of 4,850 pounds per square inch.
Brigham has commenced completion operations and plans to begin flowing the well
to sales within two weeks.
Brigham's 3-D seismic interpretative mapping indicates that the channel
sand reservoir in this discovery covers approximately 460 acres. Brigham
operates the well and has retained a 71% working and 57% net revenue interest.
The Company may drill one to two offsets to this discovery, the first of which
could spud late in the second quarter.
Bud Brigham, the Company's Chairman, CEO and President, stated, "This
recent discovery extends our 1999 drilling success in the Anadarko Basin into
2000. The quality of the reservoir encountered with this well is better than
anticipated, and the discovery bodes well for our inventory of Springer
prospects in the area."
Home Run Field Development
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Brigham also provided an update on its development activities at the Home
Run Field in Brooks County, Texas. The Palmer State #3 well was spud in March as
the first offset to Brigham's recently completed Palmer State #2 well. Brigham
is preparing to run wireline logs over the drilled Lower Vickburg intervals at a
depth of approximately 12,000 feet. The top of the prospective Lower Vicksburg
sands in the Palmer State #3 was encountered approximately 225 feet high to the
Palmer State #2, and the well apparently encountered approximately 100 feet of
gross sand in two separate lobes at the top of the Lower Vicksburg section that
were not present in the Palmer State #2.
Upon completion of the current wireline logging operations, Brigham intends
to set a drill liner at approximately 12,000 feet and to subsequently drill to a
depth of 13,870 feet to test the prospective Vicksburg eight, nine and ten
sands. The Vicksburg nine and ten sands were not penetrated in the currently
producing Palmer State #2 well. Open hole logging of the deeper Vicksburg sands
and production testing of the Palmer State #3 should be completed in May.
Mr. Brigham further stated, "We are very encouraged by our early 2000
drilling results. In 2000 we are capitalizing on our 1999 drilling success,
particularly in the Home Run Field area. This exciting drilling program is
accelerating, as we currently have five wells drilling, several of which could
substantially impact our production volumes, reserves and cash flow in 2000."
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]
