Brigham Exploration Company

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Address
6300 Bridge Point Parkway
Building 2
Suite 500
Austin
Texas 78730
U.S.A.
Tel (512) 427 3300
Fax (512) 427 3400
Web http://www.bexp3d.com

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Capex

 Brigham Exploration Company approved a $134.4 million capital expenditure budget for 2008.

2008 CAPITAL SPENDING PLAN


Brigham plan to spud 33 wells in 2008 with an average working interest of 54%. Approximately $102.6 million, or 76%, of the company's 2008 capital budget will fund drilling expenditures, which represents an approximate 6% increase compared to 2007. Brigham estimate that they will operate 93% of their 2008 drilling capital expenditure budget and that 71% of 2008 drilling capital expenditures will be allocated to development drilling while 29% will be allocated to exploration drilling. Additionally, Brigham estimate that they will spend approximately $31.2 million in 2008 to develop their proved undeveloped reserves at December 31, 2007. The company's budgeted capital expenditure program for 2008 is as follows:


(In millions)
Drilling: $102.6
Net land and seismic: 18.3

Exploration and development capital expenditures: $120.9
Capitalized interest and G&A: 12.8
Other non-oil & gas assets: 0.7

Total: $134.4

The amount and allocation of actual capital expenditures will depend upon a number of factors, including the impact of oil and gas prices, variances in drilling and service costs, the timing of our drilling wells and variances in forecasted production.

Future Plans

ROCKY MOUNTAINS


Approximately $52.4 million, or 43%, of the company's 2008 exploration and development capital expenditures are expected to be allocated to their Rocky Mountain province. Approximately $41.0 million, or 78%, of this capital will be allocated to drill 17 wells in the Williston Basin with an anticipated 35% net working interest, to complete wells that were in progress at year-end 2007 and for other various exploration and development activities. Of the 17 wells Brigham currently expect to drill in 2008, 16 are expected to be Bakken wells and one is expected to be a Red River well. In 2008, the company plan to spend approximately $11.4 million, or 22%, of this capital on land and seismic activities.


ONSHORE GULF COAST


Approximately $51.7 million, or 43%, of Brigham's 2008 exploration and development capital expenditures are expected to be allocated to their Onshore Gulf Coast province. Approximately $48.1 million, or 93%, of this capital is expected to be allocated to drill 11 wells with an average net working interest of 71%, to drill and complete several wells that were in progress at December 31, 2007 and for other various exploration and development activities. In 2008, Brigham anticipate spending approximately $3.6 million, or 7%, or this capital on land and seismic activities.


Approximately 68% of Onshore Gulf Coast drilling capital is anticipated to be allocated to development activities. Brigham's 2008 development activities are expected to consist of four Vicksburg wells, one Southern Louisiana well, one Frio well and for other development activities.


Approximately 32% of Onshore Gulf Coast drilling capital is anticipated to be allocated to exploration activities. Brigham's 2008 exploration activities are expected to consist of one Vicksburg well, four Southern Louisiana wells and to complete a Southern Louisiana well that was in progress at year-end.


ANADARKO BASIN


Approximately $13.6 million, or 11%, of Brigham's 2008 exploration and development capital expenditures will be allocated to their Anadarko Basin province. Approximately $11.7 million, or 86%, of this capital will be allocated to drill five wells with an average net working interest of 76% and for other various exploration and development activities. In 2008, the company anticipate spending approximately $1.9 million, or 14%, of this capital on land and seismic activities.


Approximately 62% of Anadarko Basin drilling capital is expected to be allocated to development activities, which include one Hunton well, one Springer Channel well, one Springer Bar well, one other Anadarko Basin well and for other various development activities.


Approximately 38% of Anadarko Basin drilling capital is expected to be allocated to drill one Hunton exploration well.


WEST TEXAS AND OTHER


Approximately $3.2 million, or 3%, of the company's 2008 exploration and development capital expenditures are allocated to their West Texas and Other province. Approximately 56% of this capital will be allocated to complete one exploratory well that was in progress at December 31, 2007 and for other various exploration and development activities. In 2008, Brigham anticipate spending approximately $1.4 million, or 44%, of this capital on land and seismic activities.

Production

Average daily production volumes for 2007 were 41.6 MMcfe per day, up 13% when compared to those for 2006. Revenues from the sale of oil and natural gas including hedge settlements for 2007 were $124.7 million, which represents a 20% increase when compared to last year. Higher production volumes increased revenue by $10.4 million, higher prices also increased revenue by $10.4 million and higher hedge settlements increased revenue by $0.4 million.

Average daily production volumes for 2006 were 36.8 MMcfe per day, up 11% when compared to 2005.

Reserves

Estimated net proved reserve volumes at December 31, 2007 totaled 140.2 Bcfe of which approximately 76% was natural gas. During 2007, Brigham added approximately 32.6 Bcfe in net proved reserves and replaced 217% of their15.0 Bcfe of production. Net proved reserves decreased by 23.8 Bcfe due to the divestiture of their Anadarko Basin Granite Wash assets. As of December 31, 2007, the company's estimated proved reserves were comprised of 69.3 Bcfe of net proved developed reserves and 70.9 Bcfe of net proved undeveloped reserves.

The company's estimated net proved reserve volumes at December 31, 2006 totaled 146.5 Bcfe of which approximately 82% was natural gas. During 2006, Brigham added approximately 26.5 Bcfe in net proved reserves and replaced 200% of the 13.3 Bcfe of production. Their 2006 net proved reserve additions included 26.8 Bcfe of extensions, discoveries and other additions which were partially offset by 0.3 Bcfe of revisions to prior estimates. Estimated net proved developed reserves at December 31, 2006 totaled 81.0 Bcfe and net proved undeveloped reserves totaled 65.5 Bcfe. With net proved undeveloped reserves remaining flat from 2005 to 2006, Brigham's net proved developed reserves increased 19% from the prior year and represented 55% of total proved reserves at year- end 2006 versus 51% at year-end 2005.

Who's Who

Curtis F. Harrell
Executive VP, Chief Financial Officer and Director
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Ben "Bud" M. Brigham
President, Chief Executive Officer and Chairman of the Board
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David T. Brigham
Executive Vice President - Land and Administration
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Eugene B. Shepherd, Jr.
Executive Vice President and Chief Financial Officer
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A. Lance Langford
Executive Vice President of Operations
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Jeffery E. Larson
Executive Vice President of Exploration
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Warren Ludlow
General Counsel and Corporate Secretary
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Scott W. Tinker
Director
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Offices

United States
Head Office
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