Brigham racing ahead in Bakken

AFP

related stories

Noah Brenner

 05 April 2010 22:55 GMT

US junior Brigham Exploration is selling 13 million shares of stock to get the money needed to accelerate oil drilling in the Bakken shale.



The company plans to use the roughly $213 million generated by the sale to increase its rig count from four to eight by may of next year.

The new programme calls for Brigham to drill 76 net Bakken and Three Forks wells over the next two years.

The company upped its drilling budget this year from $199 million to $294 million, including $267 million in drilling and infrastructure costs and $27 million in land and seismic buys.

Brigham plans to drill about 31 net wells under that budget, primarily in its Rough…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index