Brigham Exploration announces Gulf coast discoveries

Nov 11, 2003 01:00 AM

Brigham Exploration announced three apparent onshore Gulf Coast discoveries, two in the Frio and one in the Vicksburg, other discoveries in the Anadarko Basin, and updated other operational activity.
In Matagorda County, Texas, Brigham is currently completing two apparent Frio discoveries in its Frio focus play. One of the discoveries, the Harrison #1, tested Brigham's Corner Pocket Prospect. Based on wireline logs, the Harrison #1 encountered approximately 60 feet of apparent pay in various Lower Frio intervals. The shallowest apparent pay interval was encountered approximately 116 feet structurally high to a well that tested gas from the same interval.

Deeper apparent pay intervals were encountered as much as 850 feet structurally high to the comparable intervals in the same offset well, which is located approximately 4,000 feet from the Harrison #1. Brigham operates the Harrison #1 with a 50 % working interest, and expects production to sales in the next several weeks. Depending on performance, one offset to this discovery could be drilled in early 2004.
Brigham's second Frio discovery encountered approximately 100 feet of apparent net pay in the Frio. Brigham operated this discovery with a 75 % working interest, and expects to commence production to sales within the next several weeks. Depending on performance, this discovery could require an offset, which would most likely be drilled in early 2004. Brigham currently expects to commence four additional Frio tests by year-end, including at least one Providence Field development well.

Bud Brigham, the Company's Chairman, CEO and President, stated, "We are cautiously optimistic about our apparent Corner Pocket discovery, which should be a significant reserve addition for our company. As evidenced by both of these new Frio discoveries, and our completion of fifteen wells in seventeen recent attempts in this trend over the last several years, we continue to enjoy a remarkable run of drilling success in the Frio trend.”
“We are looking forward to a very active drilling program in this trend during the remainder of 2003 and 2004."

Brigham successfully drilled and is currently completing the Palmer #8 well. The Palmer #8 is Brigham's eleventh completion in its Home Run Field, and its sixteenth consecutive Vicksburg completion in its Diablo Project in Brooks County, Texas.
The Palmer #8 encountered approximately 80 feet of apparent net pay in various Lower Vicksburg intervals which is an above average pay thickness for the field. Initial production to sales is expected within the next several weeks. Brigham retained a 100 % working interest in the Palmer #8. Brigham's working interest in the Palmer #8 will revert to 34 % if the well pays out 350 % of its drilling and completion costs.

Brigham expects its third Floyd Fault Block Field well, the Sullivan #10, to commence drilling. Brigham retains a 34 % working interest in this test, which will offset the successfully drilled Sullivan #8 and Sullivan #9 wells. Results for this well are expected by early January 2004.
As part of the recently announced Vicksburg joint ventures, Brigham is currently commencing the drilling the Sullivan F #1 to test the Floyd South fault block. Brigham is operating the Sullivan F #1 and retains a working interest of 100 % before casing and 50 % after casing point. Brigham will retain a 50 % working interest before and after casing point in any subsequently drilled wells in the Floyd South fault block.

Results are expected by late December or early January. Brigham also expects to commence drilling operations to test two additional fault blocks within its Diablo East and Diablo South joint ventures during the first quarter 2004.
Bud Brigham stated, "Given our 100 % working interest, and the above average amount of pay encountered, the Palmer #8 Home Run Field well should have a very positive impact on our production volumes as we exit 2003. Thanks to our recently announced joint ventures covering acreage over adjacent fault blocks to our HomeRun, Triple Crown and Floyd Fault Block field discoveries, we are currently accelerating our drilling program in this trend with substantially higher working interests and more operational control. We expect our expanded and accelerated Vicksburg program to have a very substantial impact on our growth in production volumes and reserves in 2003, 2004 and subsequent years."

Brigham participated in the successful completion of its ninth Springer Bar Field well, the Williamson #1, with a 17 % working interest. The Williamson #1 commenced production to sales in October and was recently producing approximately 2.4 mm cf of natural gas and 9 bpd of oil. In addition, Brigham currently has one other well completing, with one currently drilling, and expects to commence drilling three additional wells by year-end.
The Brown #3, a previously announced Canyon reef discovery, has been completed in a deeper Strawn interval at a rate of approximately 102 barrels of oil and 102 bpd of water. The primary objective was the Canyon reef at a depth of approximately 9,100 feet. The well encountered approximately 68 feet of apparent net Canyon Reef pay, which remains behind pipe for future completion. Brigham retained a 20 % working interest in the discovery.

Brigham has spud twenty-eight wells thus far in 2003, retaining an average working interest of 45 %. Twenty-three of these wells have been or are being completed, three have been plugged and two are currently drilling. Brigham's gross and net completion rates thus far for 2003 are 89 % and 88 %, respectively. Brigham currently plans to commence drilling operations on approximately fifteen additional wells by year-end.
Brigham Exploration 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.

Source: PRNewswire
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