Brigham Exploration Co. (BEXP)

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Brigham Exploration Company engages in the exploration, development, and production of oil and natural gas in the United States. It utilizes 3-D seismic imaging and other technologies to explore and develop domestic onshore oil and natural gas reserves in the onshore Gulf Coast, the Anadarko Basin in northwest Oklahoma, and the Texas Panhandle and west Texas. As of December 31, 2005, the company had 133.2 billion cubic feet of natural gas equivalent of total proved reserves, approximately 190 exploration prospects, and 151 development drilling locations. It sells its oil and natural gas to intrastate pipeline purchasers, operators of processing plants, and marketing companies. Brigham Exploration was founded in 1990 and is headquartered in Austin, Texas.


Market Cap (intraday): 406.73M
Enterprise Value (18-Apr-06)3: 456.78M
Trailing P/E (ttm, intraday): 14.29
Forward P/E (fye 31-Dec-07) 1: 14.93
PEG Ratio (5 yr expected): 1.57
Price/Sales (ttm): 4.10
Price/Book (mrq): 1.63
Enterprise Value/Revenue (ttm)3: 4.71
Enterprise Value/EBITDA (ttm)3: 5.64


FINANCIAL HIGHLIGHTS

Fiscal Year
Fiscal Year Ends: 31-Dec
Most Recent Quarter (mrq): 31-Dec-05


Profitability
Profit Margin (ttm): 28.27%
Operating Margin (ttm): 48.21%


Management Effectiveness
Return on Assets (ttm): 8.77%
Return on Equity (ttm): 12.34%


Income Statement
Revenue (ttm): 97.04M
Revenue Per Share (ttm): 2.284
Qtrly Revenue Growth (yoy): 81.20%
Gross Profit (ttm): 86.53M
EBITDA (ttm): 80.99M
Net Income Avl to Common (ttm): 27.43M
Diluted EPS (ttm): 0.63
Qtrly Earnings Growth (yoy): 133.50%


Balance Sheet
Total Cash (mrq): 3.97M
Total Cash Per Share (mrq): 0.088
Total Debt (mrq): 63.10M
Total Debt/Equity (mrq): 0.251
Current Ratio (mrq): 0.756
Book Value Per Share (mrq): 5.38
 
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interessante...
 

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ottimo , dai una occhiata anche a mxc non è male: ;)




Paolo
 
Press Release Source: Brigham Exploration Company

Brigham Exploration Announces Apparent South Louisiana Discovery, Other Completions and Provides Operational Update
Tuesday May 2, 5:00 am ET

AUSTIN, Texas, May 2 /PRNewswire-FirstCall/ -- Brigham Exploration Company (Nasdaq: BEXP - News) announces successful wells, including an apparent discovery in its Bayou Postillion Project in South Louisiana. Brigham also provided an update of its operational activities.
SIGNIFICANT WELLS RECENTLY COMPLETED, COMPLETING, DRILLING OR PREPARING TO DRILL


Well Objective Category WI% NRI Status / Comments

Cotten Land #1 Oligocene Dev/Exp 41% 29% Completing with
approximately 34' apparent
pay roughly 324' high to
10 MMcfed well
Dawson #3 Vicksburg Dev 100% 76% Completing @ early rate of
3.5 MMcfed with shallower
apparent pay to be added
Wyse #2 Lwr Frio Dev 50% 40% Completing from 39' apparent
pay, currently testing @
0.3 MMcfed
Hobart 59-2 Gr. Wash Dev 99% 80% Completing with comparable
pay to recent wells that
commenced @ 4-5 MMcfed
Sartwelle #4 Frio Exp/Dev 75% 53% Completed mid-March @
2.6 MMcfed, currently
2.5 MMcfed
Palmer #11 Vicksburg Dev 100% 80% Completed upper intervals @
5.3 MMcfed, will be
commingled with lower
pay zones
Pitre-Todd Hackberry Exp 25% 19% Well plugged and abandoned
Ent. #1
Mills Ranch Hunton Dev 93% 63% Drilling in apparent Hunton
#1-99S @ 20,535', results expected
in late May or early June
Mills Ranch Hunton Dev 69% 57% Drilling @ 11,600',
96 #1 targeting Hunton @ 24,500',
results expected in
September
Dawson #4 Vicksburg Dev 100% 76% Drilling @ 2,800', est.
total depth of 12,100',
results expected in June
Trull B #3 Lwr Frio Exp 75% 55% 1st 2006 high reserve
potential well drilling @
6,600', results expected
late May
Field 18-19 Bakken Exp 100% 79% Drilling @ 1,000', 1st
1-H of 3 sequential horizontal
wells, results expected
in June
Derek #3 Douglas Dev 96% 77% Planned May spud of 1st of
numerous potential wells
offsetting recent producer
C. Broad- Yegua,etc. Exp 33% 25% Planned June spud of
casting #1 S. Louisiana multi pay
bright spot test of
Leuthen Prospect
Gambino #1 Cris I. Exp 25% 19% Planned early June spud of
S. Louisiana prospect
Turtle Ridge Lwr Frio Exp 75% 56% Planned early June spud of
#1 high potential General Lee
test, results expected
in July
Kinder Canal Yegua,etc. Exp 33% 25% Planned July spud of
Co. #1 S. Louisiana bright spot
test of Plassey Prospect
Krejci #1-29 Mowry Exp 50% 40% Planned July spud of 1st of
4 Powder River Basin
Horizontal Mowry and
Muddy tests


GULF COAST LOUISIANA MIOCENE TREND JOINT VENTURES
Bayou Postillion Project, Iberia Parish -- Brigham is currently completing its first Bayou Postillion well, the Cotten Land Corp. #1. The Cotten Land #1 encountered approximately 34 feet of apparent pay approximately 324 feet high to an offsetting producer. The structurally down dip well was completed in August of 2005 at 10 MMcfe per day, and at last report was continuing to produce at that rate. Brigham retains a 41% after casing point interest in the Cotten Land Corp. #1.

The Bayou Postillion Project was generated by Penn Virginia (NYSE: PVA - News) from the interpretation of an extensive 3-D seismic inventory acquired in the region in recent years. Bayou Postillion is one of Brigham's two joint ventures with Penn Virginia, the other being Mystic Bayou, to develop 3-D delineated projects in the Miocene and Upper Oligocene trends of Southern Louisiana. Brigham is also involved in two other joint ventures with a private operator in the same trend. Brigham views these South Louisiana projects as a logical extension of its Gulf Coast Frio trend, given that the company will utilize its geophysical, geological and operational expertise to explore potential reservoirs in similar geologic settings to that of the Frio in the onshore Texas Gulf Coast.

Bud Brigham, the Chairman, President and CEO, stated, "We are very encouraged by the results of the Cotten Land Corp. #1. We expect to production test the well in the next several weeks, with production to sales expected in 30 to 60 days. With success, there are other adjacent fault blocks that could subsequently be tested. Also in southern Louisiana, we will commence two bright spot exploration tests in June and July as part of our joint ventures with a private operator, and the first well in Mystic Bayou with Penn Virginia in October."

Gulf Coast Vicksburg Trend

Triple Crown Field Wells -- Brigham recently completed the Dawson #3 in the Upper Vicksburg 9800' sands at an initial rate of approximately 3.3 MMcf of natural gas and 34 barrels of condensate (3.5 MMcfe) per day. Approximately 49 feet of pay was encountered in the currently producing 9800' sands, with an additional 19 feet of apparent pay behind pipe in the shallower "Brigham" sand. Brigham plans to perforate, stimulate and commingle the Brigham sands with the currently producing 9800' sands in the near future. The Dawson #3 offsets Brigham's recent Dawson #2 and Sullivan C-31 completions, which subsequent to the perforation and stimulation of the Brigham sand produced at initial rates of 9.3 and 10.1 MMcfe per day, respectively.

Subsequent to drilling the Dawson #3, Brigham commenced another Triple Crown Field well, the Dawson #4, with results expected in June. Brigham retains 100% working interests in both the Dawson #3 and Dawson #4 wells, subject to a 16.5% back in at 100% payout, and an additional 16.5% back-in after 200% payout. Brigham plans to commence at least one more high working interest Triple Crown Field well during the second half of 2006.

Home Run Field Well -- Brigham previously announced the completion of the Palmer #11 from the lowest 28 feet of apparent pay in the Vicksburg at an initial rate of approximately 2.9 MMcf of natural gas and 174 barrels of condensate (3.9 MMcfe) per day. Brigham subsequently set a temporary bridge plug, perforated and stimulated the upper 70 feet of shallower Vicksburg pay, which recently commenced production at an initial rate of 4.3 MMcf of natural gas and 163 barrels of condensate (5.3 MMcfe) per day. Brigham retains a 100% working interest in the Palmer #11 subject to a 66% back-in at 350% payout. Brigham currently plans to drill at least one additional well in the Home Run Field during the second half of 2006.

Bud Brigham stated, "We continue to enjoy strong results in the Vicksburg, as evidenced by our Palmer #11 and Dawson #3 completions. With two wells already on line this year, and three more high working interest wells planned to reach total depth by late August, the Vicksburg drilling thus far appears to be delivering the growth in production and proved developed reserve we had hoped for. Given our momentum in this area, we may consider drilling additional wells later in the year."

Gulf Coast Frio Trend

Bouldin Lake Field Development Well -- Brigham is currently completing the Wyse #2, which encountered approximately 39 feet of Lower Frio pay approximately 240 feet high to the Wyse #1, and approximately 565 feet high to the Grisham #1. Subsequent to fracture stimulation, the lower 32 feet of pay was production tested at an initial rate of approximately 0.9 MMcf of natural gas and 40 barrels of oil (1.2 MMcfe) per day, though it was recently testing at a rate of approximately 0.3 MMcf of natural gas and 5 barrels of oil (0.3 MMcfe) per day.

Bud Brigham stated, "We're currently bringing on line the Wyse #2, and given that the porosities are lower than the Wyse #1 and the Grisham #1 the well is performing below our expectations. We are also checking for possible sediment fill that may be obstructing the perforations. We will continue to evaluate the performance of the well to determine what, if any, additional operations can be implemented to improve the wells productivity."

Sartwelle #4 Discovery Update -- As previously announced, Brigham commenced production in March from the Sartwelle #4 at an initial rate of approximately 1.3 MMcf of natural gas and 220 barrels of oil (2.6 MMcfe) per day. The Sartwelle #4 is currently producing approximately 1.3 MMcf of natural gas and 204 barrels of oil (2.5 MMcfe) per day. Given that the well continues to perform well, Brigham currently plans to test an adjacent fault block with the Sartwelle #5 during the fourth quarter. Brigham operates the Sartwelle #4 with a 75% working interest, with Royale Energy, Inc. (Nasdaq: ROYL - News) as a project participant with a 25% working interest.

High Reserve Potential Tests -- In the same area, Brigham is currently drilling its first 2006 high reserve potential test, the Trull B #3. The Trull B #3 targets an estimated 445 acre Middle Frio structure with an unrisked reserve potential of approximately 26 Bcfe. Results are expected in June, at which time Brigham plans to commence its second high reserve potential test, the Turtle Ridge #1. The Turtle Ridge #1 targets an estimated 500 acre Lower Frio structure with an unrisked reserve potential of approximately 25 Bcfe. Results for the Turtle Ridge #1 are expected in August. Brigham operates both the Trull B #3 and the Turtle Ridge #1 wells with a 75% working interest. Royale Energy, Inc. is also a participant in the Trull B #3 with a 25% working interest, and has the opportunity to participate with a 25% working interest in the Turtle Ridge #1.

Bud Brigham stated, "We are pleased with the performance of the Sartwelle #4 thus far. As a result, we are currently planning to drill another adjacent fault block later this year, providing the potential to prove up new reserves for the company. As we previously stated, the unrisked reserve potential for the 1,100 acre complex, inclusive of the Sartwelle #4 fault block, is approximately 27 Bcfe. We're also very excited to be drilling the Trull B #3 in the same area, which will be followed by the Turtle Ridge #1. The Trull B #3 and the Turtle Ridge wells expose us to a combined unrisked reserve potential of approximately 51 Bcfe gross, or 29 Bcfe net. However, the risk for both of these high reserve potential wells is somewhat mitigated by offsetting wells that tested productive in at least one of the targeted horizons."

ANADARKO BASIN DOUGLAS PLAY

New High Working Interest Douglas Activity -- In southern Hemphill County of the Texas Panhandle, approximately eight miles from Brigham's Hobart Granite Wash drilling, Brigham is currently preparing to commence the Derek 12-3 with a 96% working interest. The Derek 12-3 offsets a recently drilled discovery that commenced production at an initial rate of 640 Mcfe per day and is expected to ultimately produce 1.0 to 1.5 Bcfe. Brigham owns approximately 2,400 net acres in the area, and with success up to 10 potential locations could be drilled. Results for the Derek 12-3 are expected in late May.

WILLISTON BASIN BAKKEN PLAY UPDATE

In November 2005 Brigham announced the acquisition of approximately 46,000 net acres in the Bakken play located in 126 sections in northwestern North Dakota. Brigham acquired a 100% working interest in the Bakken formation within the acreage. Subsequent to that transaction Brigham began adding to its acreage position. The company expects to have acquired an additional 30,000 acres in Montana and North Dakota by early in the third quarter, in which Brigham's rights will not be limited to the Bakken formation.

Commencement of 1st of Three Consecutive Bakken Wells -- Brigham has commenced the Field 18-19 1-H, the first of its three horizontal Bakken wells currently planned for 2006. Brigham plans to drill the Field 18-19 1-H to a true vertical depth of approximately 10,600 feet with a projected lateral extension of 9,000 feet. Results for the Field 18-19 1-H are expected in June, at which time Brigham plans to commence its second horizontal Bakken test.

Bud Brigham stated, "We continue to be encouraged by the activity of other operators in the area. In addition to the three consecutive Bakken wells we plan to drill, it appears that other operators will drill 17 to 25 additional horizontal Bakken wells in the area by year-end. We've also been encouraged by recent horizontal drilling for other objectives, such as the Madison formation, which may provide additional opportunities on our recently acquired acreage."

2006 OPERATIONAL STATISTICS

Thus far in 2006 Brigham has spud 16 wells, retaining an average working interest of approximately 68%. Six of these wells have been completed, three have been plugged and seven are currently drilling. Brigham's gross and net completion rate thus far in 2006 is 67% and 72% respectively.
 
6:39AM Brigham Exploration reports $0.02 below consensus; guides Q2 revs in-line (BEXP) 9.63 : Reports Q1 (Mar) earnings of $0.13 per share, $0.02 worse than the Reuters Estimates consensus of $0.15; revenues rose 53.9% year/year to $25.8 mln vs the $27.5 mln consensus. Co issues in-line guidance for Q2, sees Q2 revs of $25.1-27.8 vs. $26.17 mln consensus.
 
sempre che il prezzo del gasnaturale si decida ad invertire il trend negativo, ci sarebbe un gappettino a 6,5...
 

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Press Release Source: Brigham Exploration Company

Brigham Exploration Provides Operational Update

Thursday September 21, 6:00 am ET

AUSTIN, Texas, Sept. 21 /PRNewswire-FirstCall/ -- Brigham Exploration Company (Nasdaq: BEXP - News) announced a significant Vicksburg completion, that the Cotten Land #1 was in the final stages of being completed to sales, and an initial flow rate prior to stimulation for its State Tract 109 #1 discovery. Brigham also announced two apparent West Texas oil discoveries, continued growth in its acreage position in the Williston Basin Bakken play, and updated other operational activity.



SIGNIFICANT WELLS RECENTLY COMPLETED, COMPLETING, DRILLING OR PREPARING TO
DRILL

Development
Wells Objective Category WI% NRI Status / Comments
Sullivan
F-33 Vicksburg Dev 100% 76% Initial production
from deeper Dawson
sand @ ~9.5 MMcfed
with strong
pressures

Sullivan
C-33 Vicksburg Dev 100% 76% Drilling potential
high production rate
Floyd Field
development well @
2,030'

Mills Ranch
98 #2 Hunton Dev 100% 75% Operations
progressing, expect
to be back on line
soon

Mills Ranch
96 #1 Hunton Dev 68% 56% Drilling @ 24,134'
in Hunton with gas
shows, results
expected late
October


Exploration
Wells Objective Category WI% NRI Status / Comments
Cotten Land
#1 Oligocene Exp 41% 29% Currently
completing to sales,
expect 8 to 15
MMcfed early rate

Williams Land
#1 Planulina Exp 59% 43% Preparing to
commence high
potential S. LA
well, results
expected in November

State Tract
109 #1 Lwr Frio Exp 75% 55% Completed 36' of
pay in Turtle Ridge
discovery @ ~2.4
MMcfed, plan frac
pac

Green Ranch
#1 Lwr Frio Exp 75% 56% Preparing to
commence high
potential well,
results expected in
December

20 Mi. Creek
Fed.
#2 Muddy/Dakota Exp 38% 30% Drilling 9,800'
Niobrara Co., WY
Conventional well @
9,522', results in
October

Kinder Canal
Co. #1 Yegua,etc. Exp 33% 25% Unsuccessful
attempted completion
of S. Louisiana test
(Plassey Prospect)

John Foley
#1 Yegua,etc. Exp 33% 24% Drilling S. LA
multi pay bright
spot well (formerly
C. Broadcasting #1)
@ 3,654'

Pink Floyd Canyon Exp 50% 40% Completing after
testing @ ~192 Bopd
from 52' pay, likely
to produce 80-120
Bopd

Pink
Champagne Canyon Exp 39% 32% Apparent discovery
completing after
encountering
approximately 28'
apparent pay


Resource
Plays Objective Category WI% NRI Status / Comments

Field 18-19
1-H Bakken Exp 100% 79% Initially 200 Bopd
after pump
installation,
currently 120 Bo &
132 Mcfg per day

Erickson 8-17
1-H Bakken Exp 100% 79% Completing after
good shows, results
early October

Mracheck 15-22
1-H Bakken Exp 100% 77% Drilling horizontal
@ 17,300' with good
shows, results late
October

Krejci Fed.
#3-29H Mowry Exp 50% 40% Completing
horizontal test
after encountering
encouraging drilling
shows

Rincon Fed.
1-12H Mowry Exp 50% 40% Preparing to
commence 2nd 2006
horizontal Mowry
test, results in
December




Gulf Coast Vicksburg Development
Triple Crown Field 100% WI Well - The Sullivan F-33 was recently completed from the Dawson sand at an early rate of approximately 8.7 MMcf of natural gas and 140 barrels of oil (9.5 MMcfe) per day, with very strong flowing casing pressures. This is the first well to be completed to sales in the Dawson sand, the deepest of three apparent productive intervals encountered by the well. The Sullivan F-33 also has apparent pay in the shallower Loma Blanca interval, and approximately 63 feet of apparent pay in the shallowest 9800' sand objective. The shallower intervals will likely be fracture stimulated and commingled into the production stream at a later date. Brigham has retained a 100% working interest in the Sullivan F-33, subject to a 16.5% back-in after payout, and then an additional 16.5% back-in after 200% payout.

Floyd Fault Block Field Update - The Sullivan #10 experienced a down hole operational problem, and as a result was briefly off line in late August. The operator now has the well back on line producing at a recent rate of approximately 1.6 MMcfe per day, with plans to increase the rate gradually to 2.7 MMcfe per day. Brigham retains a 34% working interest in the Sullivan #10, which commenced producing in April 2004 at a rate of approximately 15 MMcfe per day, has produced approximately 7.6 Bcfe to date, and prior to the problem was producing approximately 6.6 MMcfe per day.

Brigham recently commenced the Sullivan C-33, which is currently drilling at a depth of approximately 2,030 feet. Brigham retains a 100% working interest in the Sullivan C-33, subject to a 33% back-in after payout. Results are expected in November.

Bud Brigham the Chairman, President and CEO stated, "We're very excited about the very strong early production provided by our Dawson sand completion in the Sullivan F-33. This is the first well we've completed to sales from this interval. Provided it continues to perform, this discovery would likely add additional developmental potential to the field. We're also pleased to have commenced the Sullivan C-33, which given our working interest could have a material impact on our production volumes as we exit the year."

Gulf Coast Louisiana Miocene Trend

Bayou Postillion Project, Iberia Parish - The Cotten Land Corp. #1 is currently in the final stages of being completed to sales. Brigham previously production tested the well from one of two apparently productive sands at approximately 10.1 MMcfed. Brigham expects the well to commence producing by early next week at an initial rate of between 8 and 15 MMcfe per day. Penn Virginia (NYSE: PVA - News) also retains a significant working interest in the Cotten Land #1 well. Brigham currently expects to retain an approximate 38% working interest in one to two additional offsetting wells at what appears to be structurally high locations, which Brigham would likely operate and drill in early 2007.

Gulf Coast Frio Exploration

Turtle Ridge Lower Frio Exploration Discovery - Brigham recently production tested the State Tract 109 #1 from approximately 36 feet of apparent pay in the Lower Frio at an early rate of approximately 1.3 MMcf of natural gas, 194 barrels of condensate (2.5 MMcfe) and 22 barrels of water per day. Given some associated sand production with a decline in the flowing pressures and production rate during the test, Brigham plans to utilize a "frac pac" completion to limit the sand production and possibly enhance the productivity of the well. An additional 21 feet of apparent net pay remains behind pipe for future completion. The State Tract 109 #1 tested the Turtle Ridge Prospect, a Lower Frio structure covering approximately 500 acres. Brigham operates the State Tract 109 #1 with a 75% working interest, with Royale Energy, Inc. (Nasdaq: ROYL - News) as a participant with a 25% working interest.

Anadarko Basin Hunton Development

Mills Ranch Field Update - The Mills Ranch 96 #1 is currently drilling at a depth of approximately 24,134 feet, apparently in the primary objective Hunton formation, with good drilling shows. Brigham operates the Mills Ranch 96 #1 with a 68% working and 56% net revenue interest, with Panhandle Royalty (Nasdaq: PHX - News) participating with a 10% working and 13% net revenue interest. Results are expected in October.

Operations have progressed, and Brigham expects to bring the Mills Ranch 98 #2 back on line producing to sales within the next two weeks. A tubing leak became apparent in June 2006, and prior to the mechanical problem the Mills Ranch 98 #2 was producing approximately 3.3 MMcfe per day. Also in the Mills Ranch Field, the Mills Ranch 99 #1S2 continues to produce, at recent rates of 1.9 to 2.5 MMcfe per day.

Bud Brigham stated, "We're pleased with our operational progress thus far on the Mills Ranch 98 #2, and expect to have the well back on line producing to sales soon. We're also pleased that the Mills Ranch 99 #1S2 has continued to perform. At this point it appears the reserves are more extensive than that encountered by the previously drilled Mills Ranch 99 #1S borehole. We're also very encouraged by the good shows and pressures indicated by our Hunton drilling in the Mills Ranch 96 #1 thus far."

Resource Plays

North Dakota & Montana Bakken Wells - Brigham successfully installed tubing and a rod pump on its Field 18-19 1-H, which subsequently produced at rates as high as 200 barrels of oil per day, and is currently producing approximately 120 barrels of oil, 132 Mcf of natural gas and 33 barrels of water per day. The water rate has steadily declined over time. Prior to installation of the tubing and rod pump the well was producing approximately 100 barrels of oil per day, though the production was being inhibited by fluid loading.

Brigham is also completing its second horizontal Bakken well, the Erickson 8-17 1-H, which encountered good drilling shows. Brigham plans to fracture stimulate this well later this month, with results expected by early October. In addition, Brigham is currently drilling its third Bakken well, the Mracheck 15-22 1-H, which like the two prior wells has encountered good drilling shows thus far. Brigham is releasing the drilling rig utilized for its Bakken wells for two to three wells to be drilled by another operator, after which Brigham expects to commence its fourth Bakken well in the first quarter of 2007.

Bud Brigham the Chairman, President and CEO stated, "As expected, the installation of tubing and a rod pump enhanced the lift and production for the Field 18-19 1-H. We believe it is likely that most of our Bakken wells will require rod pumps to enhance the production. In addition, we expect to have additional results for our next two Bakken wells over the next 45 days or so. Given our opportunity to optimize how we drill and complete these wells over time, we're pleased with the results to date. We've grown our acreage position in the play to just over 90,000 net acres."

2006 OPERATIONAL STATISTICS

Thus far in 2006 Brigham has spud 35 wells, retaining an average working interest of approximately 58%. Twenty-four of these wells have been or are currently being completed, four have been plugged and seven are currently drilling. Brigham's gross and net completion rate thus far in 2006 is 86% and 88% respectively.
 
raymond james issued an update for BEXP.

today raymond james issued an update for BEXP.
They said:
"As 3Q06 is coming to a close, Brigham has provided an operational update, the main highlight of which is a
significant Vicksburg completion. The company completed the Sullivan F-33 in the Triple Crown Field with an
initial flow rate of 9.5 MMcfe/d. The well (100% working interest) encountered apparent pay in two shallow
intervals, which are likely to be frac’d and commingled into production at a later date. This completion, along
with drilling results from another well expected in November, could provide additional development
opportunities for the company in the Vicksburg trend.

- Results from the company’s Bakken play remain encouraging, as Brigham successfully completed the
installation of tubing and a rod pump on its first horizontal well in the play. The additional equipment increased
production from the well from 100 Bpd to its current flow rate of 120 Bpd and 132 Mcf of natural gas. The
company has encountered positive drilling performance from its second and third horizontal wells, which will
likely require a rod pump, and results from the second well are expected by early October. Brigham has further
increased its acreage in the Bakken play to 90,000 net acres, and we anticipate it could serve as a strong
catalyst for the firm’s production and drilling activities in the future.

- In the Gulf Coast Louisiana Miocene Trend, Brigham is completing its first Bayou Postillion well, previously
tested at a rate of 10.1 MMcfe/d. The Cotten Land #1 (76% working interest) is expected to come online by
early next week, with an estimated initial production rate between eight and 15 MMcfe/d. A down-dip producer
has kept production essentially steady over the past year, an encouraging sign for this latest well.

- In the Gulf Coast Frio Trend, a production test yielded an initial flow rate of 2.5 MMcfe/d on the State Tract 109
#1 well (75% working interest) and the company plans to use a “frac pac” completion to further enhance the
well’s productivity. Elsewhere, Brigham expects to bring a well in the Anadarko Basin back online within the
next two weeks after mechanical problems and also announced two apparent West Texas oil discoveries.

- Thus far in 2006, Brigham has spud 35 wells, retaining an average working interest of 58%. Twenty-four of
these wells have been or are being completed, four have been plugged, and seven are currently drilling.
Brigham's year-to-date net completion rate is 88%. These continue to be solid results. Brigham’s operational
progress YTD, especially in the Vicksburg Trend and Bakken Play, gives us confidence in the company’s
ability to further accelerate its ongoing production ramp-up into 2007. We reiterate our Outperform rating."
 
Press Release Source: Brigham Exploration Company

Brigham Exploration Announces Cotten Land #1 Producing 10.4 MMcfed
Monday September 25, 4:00 pm ET

AUSTIN, Texas, Sept. 25 /PRNewswire-FirstCall/ -- Brigham Exploration Company (Nasdaq: BEXP - News) announced that the Cotten Land #1 had been hooked up to sales at a current rate of approximately 10.4 MMcfe per day.
ADVERTISEMENT

Gulf Coast Louisiana Miocene Trend

Bayou Postillion Project, Iberia Parish -- The Cotten Land Corp. #1 is currently producing to sales at a rate of approximately 10.2 MMcf of natural gas and 26 barrels of oil (10.4 MMcfe) per day, or 3.0 Mmcfe per day net to Brigham's 29% net revenue interest, with strong flowing tubing pressures. Penn Virginia (NYSE: PVA - News) also retains a significant working interest in the Cotten Land #1 well. In the next several days, Brigham plans to perforate an additional apparent pay interval, and as a result the production rate may be increased over time.

Bud Brigham the Chairman, President and CEO stated, "As expected, the Cotten Land is a significant producer for the company, although it commenced producing to sales later in the third quarter than anticipated. This well, and the recently completed 100% working interest Sullivan F-33 Vicksburg well, which continues to produce at almost 10 MMcfe per day, should fully impact our fourth quarter production. These two wells alone are currently providing us with just over 10 MMcfe of net daily production. Combining these wells with other significant wells currently completing and drilling, provides additional evidence for what should be record average daily production volumes for the fourth quarter."

About Brigham Exploration
 
candelina..
 

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The P/E is 9.97x
Easy 25% gains from here. This is a no brainer!
 

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Buono il movimento di ieri con rottura dei massimi.
Vale un'entrata.
 

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i target non li azzecco mai, se qualcuno ci venisse in aiuto...
 
potrebbe rallentare un po la salita nei prossimi mesi.. cmq rimane uno dei titoli migliori;)
 
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