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.