BEXP Announces Intention to Expedite Drilling -- Bakken, North Dakota, USA

Link here and here (some numbers rounded).

• Will have 10 rigs by July, 2011, about six months ahead of previously announced schedule
• Acquired more acreage in its core de-risked area; additional 6,900 ares
• Currently holds 378,100 net acres (224,400 net acres located in core operating projects); up from 371,200 net acres which was 6,900 more than previous announcement
• Will increase its CAPEX to $836 million

CAPEX will allow:

• BEXP to drill 8 additional net Williston Basin wells
• Construction of additional support infrastructure
• Add rail yard facilities west of the Nesson Anticline

Current location of rigs

• Four rigs in Rough Rider
• Two rigs in Ross
• One rig in Montana

Will fund increased CAPEX with $250 million offering of senior notes due 2019