Saturday, December 26, 2009

Bakken Shale - Brigham Exploration BEXP - Top Oil Well

Brigham Exploration Co. (BEXP) gets my vote for Top company in the Bakken Shale in 2009. BEXP was basically left for dead during February & March of 2009 as institutions and mutual funds dumped the stock. Shares of Brigham Exploration Co. (BEXP) hit a low of $1.04.

The stock then rebounded with the overall stock market back into the $3's in May. Raymond James upgraded the stock and BEXP surged to $5 by August.

BEXP now trades just shy of $15 and is most likely headed to $25 in 2010.

Recently, Brigham Exploration Co. (BEXP) announced one of the best wells in the Bakken Shale of all time.

Brigham Exploration Announces Williston 25-36 #1H Bakken Well Produces at Initial Rate of Approximately 3,394 BOEPD

December 14, 2009 -- Brigham Exploration Company (NASDAQ: BEXP) announced that its operated Williston 25-36 #1H produced approximately 3,394 barrels of oil equivalent per day (2,769 Bopd and 3.75 MMcf/d) from the Bakken formation during an early 24 hour flow back period. The Williston was completed with 32 frac stages and represents Brigham's highest reported 24 hour flow back rate in the Williston Basin. Thus far, Brigham's nine long lateral high frac stage Bakken and Three Forks wells have averaged an early peak production rate of approximately 2,066 barrels of oil equivalent per day. Full Press Release Here

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