Brigham Exploration (BEXP) To Offer 30M Shares

Brigham Exploration Company (Nasdaq: BEXP) commenced an underwritten public offering, subject to market and other conditions, of 30,000,000 shares of common stock under its existing shelf registration statement. The underwriters will have a 30-day option to purchase up to 4,500,000 additional shares of common stock.

Brigham intends to use the proceeds from the offering (net of underwriting discounts and expenses) to fund its revised capital expenditure program for 2009, including restarting its operated Bakken and Three Forks drilling program in the Williston Basin, and to repay a portion of the outstanding borrowings under its senior credit facility.