Monday, Brigham Exploration Co. (BEXP) commenced a proposed underwritten public offering of 14 million shares of common stock under its existing shelf registration statement. The company intends to use the net proceeds from the offering primarily to accelerate the development of its Williston Basin acreage position by drilling 24 net horizontal wells in 2010, which will target both the Bakken and Three Forks objectives. In connection with the offering, the underwriters will have a 30-day option to purchase up to 2.1 million additional shares of common stock.
Assuming net proceeds of approximately $137 million from the offering, the company anticipates that its initial 2010 exploration and development budget will total $175.8 million, which would include $169.4 million in drilling expenditures and $6.4 million in land expenditures. Credit Suisse Securities LLC and Jefferies & Co., Inc. are acting as joint book-running managing underwriters and Johnson Rice & Co., Raymond James, RBC Capital Markets, Howard Weil Inc. and Pritchard Capital Partners, LLC are acting as co-managing underwriters for the offering.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.