EXHIBIT 99.2
BRIGHAM
EXPLORATION COMPANY
NEWS RELEASE
FOR IMMEDIATE RELEASE
BRIGHAM EXPLORATION PROVIDES UPDATE ON PROVIDENCE FIELD WELL CONTROL INCIDENT
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Austin, TX -- (PRNewswire) - March 25, 2002 -- Brigham Exploration Company
(NASDAQ:BEXP) today provided an update on the well control incident at its
Burkhart #1, a development well at its Providence Field in Matagorda County,
Texas.
PROVIDENCE FIELD DEVELOPMENT
On Sunday, March 24, 2002, Brigham experienced a loss of surface control
while drilling the Burkhart #1, its first offset to the Staubach #1 discovery
well for the Providence Field. While drilling at a depth of approximately
10,370 feet, in a shallower formation than the lower Frio interval currently
producing in the Staubach #1, the Burkhart #1 encountered an unanticipated high
pressure Frio gas reservoir. As a result of the associated gas kick, the
Burkhart #1 lost circulation and the drill string became stuck in the hole.
Brigham engaged Cudd Pressure Control, Inc. to attempt to retain control of the
well and free the drill string. During those operations the well experienced an
uncontrolled flow of natural gas to the surface.
The well is not on fire, and efforts to regain control are currently
underway. Cudd estimates that the process of bringing the well under control
could take four to seven days. Brigham has well control and liability insurance
that it believes will be sufficient to cover any loss, including the potential
drilling of a replacement well.
Bud Brigham, Brigham's CEO and President, commented, "We are grateful that
only minor injuries were sustained and that Cudd was on-site when the incident
occurred. We have a great deal of confidence in Cudd and are hopeful that the
well can be controlled within the next several days. Fortunately, production
from our Staubach #1 well has not been affected by this incident, in part
because the gas flow in the Burkhart #1 is from a shallower interval than that
producing in the Staubach #1. The Staubach #1 continues to produce at a daily
rate of approximately 2,000 barrels of oil and 5.5 MMcf of natural gas per day."
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 within the meaning
of the Private Securities Litigation Reform Act of 1995 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. All
forward looking statements contained in this release, including any forecasts
and estimates, are based on management's outlook only as of the date of this
release, and we undertake no obligation to update or revise these forward
looking statements, whether as a result of subsequent developments or otherwise.
Contact: John Turner, Manager - Finance & Investor Relations
(512) 427-3300 / investor@bexp3d.com
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