Brigham Makes Headway in Bakken Campaign
Brigham Exploration completed the Sorenson 29-32 #1H and Jack Erickson 6-31 #1H at early 24 hour peak flow back rates of 3,511 and 2,652 barrels of oil equivalent per day, respectively. To date, Brigham has completed 18 long lateral high frac stage wells at an average early 24 hour peak flow back rate of 2,491 barrels of equivalent per day. Brigham also provided an operational update.
Brigham announced the completion of its operated Sorenson Bakken well at an early 24 hour peak flow back rate of 3,511 (2,944 Bopd and 3.40 MMcf/d) barrels of oil equivalent per day. The Sorenson is located in Brigham's Ross project area in Mountrail County, North Dakota and represents a company peak flow back rate record for a Ross project area well. Brigham maintains an approximate 95% working interest in the Sorenson, which was completed with 27 frac stages. Brigham has completed five long lateral high frac stage wells in Ross with an average early 24 hour peak flow back rate of approximately 2,656 barrels of oil equivalent per day.
Brigham also announced the completion of its operated Jack Erickson Bakken well in its Rough Rider project area in Williams County, North Dakota at an early 24 hour peak flow back rate of 2,652 (2,323 Bopd and 1.98 MMcf/d) barrels of oil equivalent per day. Brigham maintains a 21% working interest in the Jack Erickson, which was completed with 30 frac stages. Brigham has completed 13 consecutive long lateral high frac stage Bakken wells in Rough Rider with an average early 24 hour peak flow back rate of approximately 2,428 barrels of oil equivalent per day. Also participating in the Jack Erickson with a 21% working interest was U.S. Energy Corp. Brigham will back in for 35% of U.S. Energy's working interest in the Jack Erickson upon achieving group payout on wells seven through ten under the drilling participation agreement.
Brigham's development of its core operated Rough Rider and Ross project areas in Williams, McKenzie and Mountrail Counties is proceeding with one well currently rigging up to begin its frac, two wells currently waiting on completion and three wells drilling. An additional operated rig is currently drilling the Rogney 17-8 #1H well in Roosevelt County, Montana. Brigham is planning to core the Rogney and expects to complete the well late in either the second quarter or early in the third quarter.
Bud Brigham, the Chairman, President and CEO, stated, "Our technical staff continues to deliver strong operational results within our core 161,900 net acres. Thus far, our 18 long lateral high frac stage wells have averaged 2,491 barrels of equivalent during early peak 24 hour flow back periods. We believe our outperformance is being driven by our staff's experience and the integrated application of geo-steering, isolated fracture stimulations, perf and plug and ceramic proppants to deliver optimal returns."
Bud Brigham continued, "We achieved strong growth in reserves and oil production volumes during 2009 despite very little drilling during the first half of the year, and with only one rig running during a considerable portion of the second half of the year. With four rigs running today, and the strong and consistent results generated by this program, we expect our production and reserve growth to accelerate meaningfully during 2010."
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