Brigham has been increasing their Williston basin acreage and has added 52,800 net acres since the end of the first quarter of this year. This additional acreage is added to their existing estimated 305,400 net acres expanding their total acreage 17% to 358,200 net acres in the basin. Of the new acreage approximately 34,000 acres is core acreage primarily in their Rough Rider project area. Brigham now has an estimated 156,700 net core acres west of the Nesson anticline in their Rough Rider and Eastern Montana project areas and roughly 198,400 net core acres east of the Nesson.
Bud Brigham, Chairman, President and CEO, had this to say about the new acreage, “Our Land Department exceeded all expectations by delivering approximately 52,800 net Williston Basin acres to our stockholders, an estimated 34,000 of which are in our core areas, since our last acreage update in April.”
The following map is from Brigham’s second quarter conference call presentation released earlier this month. It shows the acreage acquired in 2010 in orange along with their existing acreage in red.
These additional lease assets have now increased Brigham’s core acreage drilling locations roughly 16% to 574 total net locations. Brigham is currently running 5 operated rigs in the Williston basin and expect to increase to 8 rigs by May 2011.
To learn more visit the Brigham Operator Folder in the Bakken Unconventional Update in DI’s DNA.
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