Exhibit 99.1
BRIGHAM NEWS RELEASE
EXPLORATION COMPANY FOR IMMEDIATE RELEASE
BRIGHAM EXPLORATION PROVIDES UPDATE ON PROVIDENCE FIELD DEVELOPMENT
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Austin, TX -- June 12, 2002 -- Brigham Exploration Company (NASDAQ:BEXP)
today announced that the Burkhart #1R successfully intercepted and cemented the
pay interval encountered by its first Providence Field development well, the
Burkhart #1. The Company also announced the commencement of operations on its
second development well in the Providence Field.
PROVIDENCE FIELD
During February 2002, Brigham completed the Staubach #1, which was the
discovery well for the Providence Field. The Staubach #1, which began producing
to sales in February at 13.9 MMcfe (1,600 barrels of oil and 4.3 MMcf of natural
gas) per day, is currently producing approximately 15.8 MMcfe (1,850 barrels of
oil and 4.7 MMcf of natural gas) per day.
While drilling its first offset to the Staubach #1, Brigham experienced a
loss of surface control from an unanticipated pay interval at 10,370 feet,
causing the well to flow natural gas to the surface. The pay interval
encountered was shallower and separated by a fault from the Lower Frio interval
currently producing in the Staubach #1. Five days later the Burkhart #1 bridged
off naturally and was shut in.
Brigham subsequently spud the Burkhart #1R in order to intersect and cement
the original Burkhart #1 borehole over the Middle Frio interval that generated
the uncontrolled flow. This operation was successfully completed on June 7th.
Based upon wireline logs and pressures encountered while drilling, the Company
anticipates that this interval will most likely provide additional production
which may be dually completed or behind pipe in the event of the successful
completion of the deeper Lower Frio objective sands.
On June 4, 2002, Brigham began drilling new hole with the Burkhart #1R at
10,495 feet and within the next five days anticipates drilling the Lower Frio
sands currently producing in the Staubach #1 at an estimated depth of
approximately 11,800. Brigham retains a 41% working interest in the Burkhart
#1R.
Also at Providence Field, Carrizo Oil & Gas, Inc. (NASDAQ:CRZO) began
preparing the location for its Heubner #1 well, the second offset to the
Staubach #1. The Heubner #1, should commence drilling within the next ten days,
and will target the northern end of the approximately 800 acre structure.
Brigham retains a 34% working interest in this well, and results are expected by
late August. With continued drilling success, Brigham expects to spud an
additional development well during the fourth quarter 2002.
ABOUT BRIGHAM EXPLORATION
Brigham Exploration Company is a leading 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 STATEMENT 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: John Turner, Manager of Finance and Investor Relations
(512) 427-3300 / investor@bexp3d.com
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