Brigham Exploration Company (BEXP) held a conference call on November 6, 2009 to explain its third quarter of 2009 earnings. The company made extensive comments on its acreage in the Bakken Shale in North Dakota and Montana.
Brigham Exploration Company (BEXP) has acreage in three separate areas. The company has 83,000 acres in Eastern Montana, 104,000 acres in the Rough Rider project and 100,000 acres in the Ross/Parshall project, both in North Dakota. In 2010, Brigham Exploration Company plans to spud is first horizontal well on its Bakken Shale Montana acreage.
North Dakota Bakken Shale Acreage
“If you look at our core areas alone, being Mountrail County and our Rough Rider area west of the Nesson, and Williams and McKenzie Counties, we've only drilled 22 of 700 net wells we think we'll have the opportunity to drill here. That's about 3% of the inventory in our roughly 147,000 net acres that we consider to be core today. In addition, we have another 150,000 net acres that could also become core.”
Montana Bakken Shale Acreage
“We're also preparing to drill, as Bud mentioned, a Ghost Rider Bakken location in Roosevelt County, Montana, sometime in Earl 2010, with plans being to core the Bakken and Three Forks formations and then kick off and drill a Bakken test. We're very excited about this location. Control points in the area show us that the Bakken has excellent middle Bakken ferocity, and also the Bakken shales in this area are very mature.”
Source: Seeking Alpha