Brigham Exploration Makes Several Discoveries
Brigham Exploration reports discoveries with its Bayou Bengal B #13 exploration well, its Grisham #1 development well, and the completion to sales of its Mills Ranch #2-98 well. Brigham also updated other operational activity.
SIGNIFICANT WELLS RECENTLY COMPLETED, CURRENTLY COMPLETING OR DRILLING Well Objective Category WI% NRI Status / Comments Bayou Bengal B #13 Lwr Frio Exp 75% 52% Apparent discovery currently completing, approximately 53' apparent Frio pay Grisham #1 Lwr Frio Dev 50% 40% Apparent discovery currently completing, approximately 94' apparent Lower Frio pay Mills Ranch #2-98 Hntn/Arb Dev/Exp 100% 75% Completed to sales at initial rate of approximately 7.5 Mmcfe/d, still cleaning up State Tract 254 #1 Lwr Frio Exp 75% 56% Completing, initial rate of 1.1 Mmcfe/d from 1st zone, preparing to test 2nd zone Wyse #1 Lwr Frio Exp 50% 40% Commencing production subsequent to fracture stimulation Sullivan C-31 Vicksburg Dev 100% 76% Offset to successful Dawson #2 drilling at 10,300 feet, results late October Wright #2 Springer Exp 100% 75% Drilling at 12,600 feet, shallow potential pay behind pipe, results late October Fondren #1 Lwr Frio Dev 72% 59% Offset to 2003 discovery drilling at roughly 6,000 feet, results late October Imhoff #1 Lwr Frio Exp 75% 56% Currently commencing high potential well targeting 37 Bcfe potential structure
Apparent Lower Frio Field Discovery -- Brigham is currently completing the Bayou Bengal B #13, which encountered approximately 53 feet of apparent pay in the Lower Frio Tex Miss and Middle Frio intervals. Approximately 6 feet of apparent pay in the Lower Tex Miss was recently perforated, and after swabbing generated minor oil and gas volumes. Brigham will likely fracture stimulate this zone prior to perforating, stimulating and commingling approximately 12 feet of what appears to be higher quality potential pay in the Upper Tex Miss. Approximately 35 feet of apparent net pay was also encountered in the "F" series Middle Frio sands, which also remains behind pipe.
Grisham #1 Lower Frio Development Discovery -- Brigham is currently completing the Grisham #1, the first offset to its 2005 Wyse #1 Lower Frio discovery. Utilizing an 18% porosity cut off the Grisham #1 encountered approximately 94 feet of apparent Lower Frio pay. Brigham expects the well to begin producing to sales by late October. Brigham operated the drilling of the Grisham #1, and Penn Virginia participated with a 50% working interest.
State Tract 254 #1 Completion -- Brigham recently stimulated approximately 10 feet of the Lower Frio pay encountered in the State Tract 254 #1. The well, which subsequently began producing at an initial rate of approximately 1.1 Mmcfe per day, is currently producing approximately 0.8 Mmcfe per day. Brigham is preparing to perforate and stimulate 20 feet of apparently higher quality pay in the next zone above the currently producing interval. It is likely that these zones will be commingled into the same producing stream. In addition, there is approximately 21 feet of apparent pay in two Middle Frio zones remaining behind pipe for future completion. Royale Energy is a participant in both the State Tract 254#1 and Bayou Bengal B #13 wells with 25% working interests.
Mills Ranch #2-98 Completion -- Brigham recently completed the Mills Ranch #2 in the behind pipe shallower zone at an initial rate of approximately 7.5 Mmcfe per day, though the well is still cleaning up. Prior to the completion Brigham stuck drill pipe roughly 300 feet above the Arbuckle.
Bud Brigham, the Chairman, President and CEO stated, "We believe that we are on track to post a nice year for growth in reserves, particularly with successful completions of the various apparent pay zones encountered in the State Tract 254 #1 and Bayou Bengal B #13 Lower Frio wells. We are also very excited about our Grisham #1 offsetting our early 2005 Wyse #1 discovery, given that the wireline logs indicate the potential for improved porosities relative to the discovery well. We believe we likely have significant additional development drilling to follow up on these Frio wells. Lastly, we
are pleased with the early production generated by the Mills Ranch #2-98 well. As this well continues to clean up it is likely that the production rate will continue to improve. At some point in the future we hope to test the Arbuckle with an exploratory tail on another Mills Ranch Field development well."
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