AUSTIN, TX -- (Marketwire) -- 05/14/09 -- Brigham Exploration Company (NASDAQ: BEXP) today
announced that it has commenced an underwritten public offering, subject to
market and other conditions, of 30,000,000 shares of common stock under its
existing shelf registration statement. The underwriters will have a 30-day
option to purchase up to 4,500,000 additional shares of common stock.
Brigham intends to use the proceeds from the offering (net of underwriting
discounts and expenses) to fund its revised capital expenditure program for
2009, including restarting its operated Bakken and Three Forks drilling
program in the Williston Basin, and to repay a portion of the outstanding
borrowings under its senior credit facility.
In connection with the offering, Credit Suisse Securities (USA) LLC and
Jefferies & Company, Inc. are acting as joint book-running managers and RBC
Capital Markets, Howard Weil Incorporated, Johnson Rice & Company L.L.C.,
ABN AMRO Incorporated, Capital One Southcoast, Inc. and Natixis
Bleichroeder Inc. are acting as co-managers for the offering.
The offering is being made only by means of a prospectus and related
prospectus supplement, which has been filed with the Securities and
Exchange Commission. A copy of the prospectus and prospectus supplement
relating to the offering may be obtained from the offices of: Credit Suisse
(USA) LLC, Prospectus Department, One Madison Avenue, New York, NY 10010,
1-800-221-1037 or Jefferies & Company, Inc., 520 Madison Avenue, New York,
NY 10022, 1-888-449-2342.
This announcement is neither an offer to sell nor a solicitation of an
offer to buy any of these securities and shall not constitute an offer,
solicitation or sale in any jurisdiction in which such offer, solicitation
or sale is unlawful.
About Brigham Exploration
Brigham Exploration Company is a leading independent exploration and
production company that utilizes advanced exploration, drilling and
completion technologies to systematically explore for, develop and produce
domestic onshore oil and natural gas reserves. For more information about
Brigham Exploration, please visit our website at www.bexp3d.com or contact
Investor Relations at 512-427-3444.
Contact:
Rob Roosa
Finance Manager
(512) 427-3300