Brigham Exploration Co., Austin, Texas, (Nasdaq: BEXP) has completed its Olson 10-15 #1H well in North Dakota, with initial production of approximately 1,200 barrels of oil and 1.4 million cubic feet of gas per day.
The well is west of the Nesson Anticline in Williams County. Brigham also announced an apparent Red River discovery in Roosevelt County, Montana and production to sales of its Chandeleur Sound SL 19312 #1 well. Fourth quarter production is expected to be slightly more than 37 million cubic feet of gas equivalent per day.
Brigham owns 100% working interest (80% revenue interest) in the well. In both Williams and McKenzie counties, Brigham controls approximately 105,000 net acres for future development.
The Friedrich Trust 31 #1 was completed in the Red River discovery in Roosevelt County, Montana. The well was successfully drill-stem tested with 100% oil collected in the test chamber. The well experienced minimal pressure drawdown during testing. Including the Richardson 25 #1 and Richardson 30 #1, Brigham has now successfully drilled three consecutive Red River wells using 3-D seismic stratigraphic attributes to identify reservoirs. Brigham owns a 77% working interest (59% revenue interest) in the Friedrich Trust. The well is expected to come on-line to production by the end of the month.
Brigham successfully brought on-line its Chandeleur Sound SL 19312 #1 discovery in late-January at an initial production rate of approximately 2.9 million cubic feet equivalent per day. Brigham retains a 50% working interest (38% revenue interest) in the well with Clayton Williams Energy Inc. (Nasdaq: CWEI) retaining a 50% working interest.
Brigham chairman, president and chief executive Bud Brigham says, “We're excited about the very strong initial performance of our Olson 10-15 #1H. Importantly, we believe this high rate completion validates the transfer of completion technologies from Mountrail County, North Dakota to our sizeable acreage position west of the Nesson Anticline. Further, we believe we are the first company in the Williston Basin to have both run nineteen swell packers and fracture stimulate twenty stages in a long lateral.”
Brigham has oil and gas assets along the Gulf Coast, the Anadarko Basin in the Texas Panhandle and western Oklahoma, the Powder River Basin and Williston Basin in the Rockies and the Permian Basin in West Texas.
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