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Brigham Exploration Announces Brad Olson 9-16 #1H Bakken Well Produces at Initial Rate of Approximately 2,112 BOEPD
Friday, October 16, 2009 9:56 AM


(Source: MARKETWIRE)trackingBrigham Exploration Company (NASDAQ: BEXP) announced that its operated Brad Olson 9-16 #1H produced approximately 2,112 barrels of oil equivalent per day from the Bakken formation during an early 24 hour flow back period. Brigham's Brad Olson 9-16 #1H appears to be the first 28 stage fracture stimulation completed in the Williston Basin and the fifth overall 18+ stage fracture stimulation completed by Brigham in the Williston Basin.

The Brad Olson 9-16 #1H was successfully fracture stimulated and while Brigham was drilling out frac plugs the well produced approximately 1,805 barrels of oil and 1.84 MMcf of natural gas, or 2,112 barrels of oil equivalent, from the Bakken formation during a 24 hour period. The Brad Olson 9-16 #1H is located in Williams County, North Dakota in Brigham's Rough Rider project area and is approximately 1,500 feet from the Olson 10-15 #1H, which was completed with 20 fracture stimulation stages in early February 2009 at an early 24 hour production rate of 1,433 barrels of oil equivalent per day. Brigham maintains an approximate 33% working interest and 26% net revenue interest in the Brad Olson 9-16 #1H. Also participating in a non-operated role in the Brad Olson 9-16 #1H is U.S. Energy Corp. (NASDAQ: USEG) with an approximate 61% working interest and 48% net revenue interest. Brigham will back in after combined payout of the six initial wells drilled under the participation agreement with U.S. Energy for 35% of their interest in the Brad Olson 9-16 #1H well.

Bud Brigham, the Chairman, President and CEO, stated, "We're very excited with the strong early performance of our first 28 stage fracture stimulation well. Our last five wells, which had 18 to 28 frac stages, have produced at an average initial rate of 1,923 barrels of oil equivalent per day, further demonstrating that our high technology completions continue to deliver higher initial production rates."

Bud Brigham continued, "In addition, the Brad Olson 9-16 #1H is yet another data point that confirms our belief that our Rough Rider area should be considered core acreage within the Williston Basin. Assuming three Bakken laterals per section, we could potentially drill over 240 net wells in our core Rough Rider area. If the Three Forks is also productive, we could potentially drill twice that number of wells."

Bud Brigham continued, "Importantly, we are accelerating activity in the basin with the addition of our second operated rig earlier this month to further enhance shareholder net asset value. We are currently drilling the horizontal portion of the well bore in the Lee 16-21 #1H and are at approximately 9,960' in the Strand 16-9 #1H.



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