Brigham boosts 2006 capital budget 32%

Brigham Exploration Co., Austin, plans capital expenditures in 2006 of $156.9 million, a 32% increase over 2005.

March 1, 2006

2 min read

By OGJ editors
HOUSTON, Mar. 1 -- Brigham Exploration Co., Austin, plans capital expenditures in 2006 of $156.9 million, a 32% increase over 2005.

A major portion of the budget, $120.4 million, will fund drilling. This is a 33% increase over 2005 drilling expenditures. The company expects to spud 43 wells this year.

Of the 2006 drilling budget, 39% is earmarked for exploration and 61% for development. Last year's percentages were 48% exploration wells and 52% development.

On the US Gulf Coast, it will spend about $78.5 million, mainly to drill and operate 20 wells.
The independent will spend $12.8 million on land and seismic activities in the region.

In the Anadarko basin, it will spend $44 million, primarily for the drilling of 15 wells but including $11.3 million for land and seismic work.

In the Williston basin in northwestern North Dakota, Brigham will spend $20.8 million to drill four pilot wells that will target the Mississippian Middle Bakken formation. About 15% of this amount will be used for land acquisition. Brigham plans to spud its first pilot well in this province during the second quarter of 2006.

The company has allocated about $5.7 million for West Texas, most for drilling and about $1.4 million for land and seismic activity. The company plans to drill three exploration wells and one development well in this region this year.