Brigham Exploration may sell more assets, redeploy capital to Williston Basin

By Jennifer Lanning Drey

Portland, Ore., Aug. 23 - Brigham Exploration Co.'s chief executive officer, Bud Brigham, said Monday during a presentation at EnterCom, Inc's Oil and Gas Conference in Denver he "would not be surprised" to see the company sell more of its conventional assets and redeploy the capital into the Williston Basin.

The company had $333 million and $110 million of borrowing availability at June 30.

Brigham said he expected the borrowing base to increase significantly upon its November re-determination.

Additionally, Brigham has been growing its production volume, which will lead to a ramp up in cash flow, Brigham said.

"We're in a great position with our balance sheet," he said.

Brigham has been adding acreage in core areas and will continue to explore opportunities to expand its acreage position, he said.

Brigham is an Austin, Texas-based independent exploration, development and production company.

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