EXHIBIT 99.1
[BRIGHAM Exploration NEWS RELEASE
Company Logo ] FOR IMMEDIATE RELEASE
BRIGHAM EXPLORATION ANNOUNCES SIGNIFICANT FRIO DISCOVERY AND OTHER RECENT
DRILLING RESULTS
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Austin, TX -- (Business Wire) - April 16, 2001 -- Brigham Exploration
Company (NASDAQ:BEXP) today announced its third consecutive Frio bright spot
discovery, other recent drilling discoveries, and the spud of a high impact test
offsetting its Home Run Field in Brooks County, Texas.
RECENT DRILLING RESULTS
GULF COAST
Frio Bright Spot Discovery - During the first quarter, Brigham participated
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in the successful drilling of a 3-D delineated Frio bright spot discovery in
Matagorda County, Texas. The Carrizo-operated Pitchfork Ranch A-90 Well #1
production tested in the targeted Frio objective at daily rates of up to 10.5
MMcf of natural gas and 1,500 barrels of condensate per day, with flowing tubing
pressure of 6,100 psi. The well should begin producing to sales in approximately
one week at a planned rate of 14 MMcfe per day, or approximately 3.3 MMcfe per
day net to Brigham's 23.5% revenue interest. This well is Brigham's third
consecutive Frio bright spot discovery in the last four months, and four
additional Frio tests are planned for drilling in 2001.
Home Run Field Completions - In late 2000 Brigham spud two development
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wells in its Home Run Field in Brooks County, Texas. The Palmer State #4 was
fracture stimulated in four Vicksburg pay intervals and is currently producing
6.8 MMcf of natural gas and 280 barrels of condensate per day with flowing
tubing pressure of 4,800 psi, or 2.5 MMcfe net to Brigham's 29% net revenue
interest. The D.J. Sullivan C-25 was fracture stimulated in five Vicksburg pay
intervals and is currently producing 9.8 MMcf of natural gas and 390 barrels of
condensate per day with flowing tubing pressure of 5,270 psi, or 3.0 MMcfe net
to Brigham's 25% net revenue interest. Brigham currently plans three additional
development wells in the Home Run Field in 2001.
Exploratory Offset to Home Run Field - Brigham recently spud a 14,500 foot
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test of a downthrown fault block offsetting its Home Run Field discovery.
Brigham negotiated an increase of its working interest to 50%, and the well will
test a high potential exploratory structure that lies immediately beneath a Frio
field that has produced approximately 180 Bcfe to date. This well is currently
drilling at a depth of approximately 7,600 feet and should reach total depth in
June.
ANADARKO BASIN
Springer Channel Discovery - In the first quarter Brigham drilled a
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successful offset to its Price #2 Springer discovery. The Price #2 has produced
over 1.8 Bcfe since May 2000, and is currently producing over 5 MMcfe per day.
Drilled to a total depth of approximately 10,350 feet, the Price #3 well
encountered approximately 22 feet of net pay. Brigham operates the discovery
and retains a 50% working interest. Completion operations are under way, and
initial sales are expected in late April. Brigham estimates that it will
initially produce the Price #3 at a pipeline curtailed rate of approximately 2.2
MMcfe per day, or 0.9 MMcfe per day net to Brigham's 41% revenue interest.
Brigham recently spud another Springer test with a 58% working interest,
and has plans to spud two additional wells in the area within the next thirty
days, including an offset well to its recently announced Zachary #1 discovery.
The Brigham-operated Zachary #1 began producing to sales in March 2001 and is
currently producing approximately 6.8 MMcfe per day, or 1.4 MMcfe per day net to
Brigham's 20% revenue interest.
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WEST TEXAS
Canyon Reef Discovery - Brigham recently completed its second consecutive
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Canyon Reef discovery, which encountered approximately 100 feet of reef pay at a
depth of approximately 9,100 feet. Brigham expects to begin producing the well
to sales in one week at an initial rate of 175 barrels of oil per day, or 0.8
MMcfe per day net to Brigham's 78% revenue interest. Brigham's recently
announced fourth quarter 2000 Canyon Reef discovery began producing to sales in
late March and is currently producing approximately 190 barrels of oil per day,
or 0.8 MMcfe per day net to Brigham's 71% revenue interest. Brigham recently
spud its third consecutive Canyon Reef test of an analogous prospect in which it
retains a 100% working interest.
Fusselman Discovery - Brigham recently completed a 3-D delineated
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stratigraphic Fusselman discovery. The Brigham-operated well encountered the
targeted Fusselman objective at a depth of approximately 9,700 feet with an
estimated 20 feet of Fusselman carbonate pay. Brigham began producing the well
to sales in early April, and the well is currently producing approximately 170
barrels of oil per day, or 0.4 MMcfe per day net to Brigham's 43% revenue
interest.
ABOUT BRIGHAM EXPLORATION
Brigham Exploration Company is an independent exploration and production
company that applies 3-D seismic imaging and other advanced technologies to
systematically explore and develop onshore domestic natural gas and oil
provinces. For more information about Brigham Exploration, please visit our
website at www.bexp3d.com or contact Investor Relations at 512-427-3444.
FORWARD LOOKING STATEMENTS DISCLOSURE
Except for the historical information contained herein, the matters
discussed in this news release are forward looking statements that are based
upon current expectations. Important factors that could cause actual results to
differ materially from those in the forward looking statements include risks
inherent in exploratory drilling activities, the timing and extent of changes in
commodity prices, unforeseen engineering and mechanical or technological
difficulties in drilling wells, availability of drilling rigs, land issues,
federal and state regulatory developments and other risks more fully described
in the company's filings with the Securities and Exchange Commission.
Contact: Curtis F. Harrell, Executive Vice President and Chief Financial Officer
(512) 427-3300 / investor@bexp3d.com