At SeekingAlpha.com -- BEXP -- Thursday, October 5, 2011 -- Bakken, North Dakota, USA

Link here.

Many other companies operating in the area [i.e., the Bakken] such as Continental Resources and Whiting Petroleum Corporation show similar signs of success and point towards future growth, but neither have the same steady earnings nor the financial growth that Brigham exhibits. Over the past few months, the company has received a slew of price target updates.

The following is old news, from the 2Q11 conference call -- remember the horrible spring flooding, the blizzard, the wringing of hands six months ago --

During the latest conference call (2Q11), the company's current success and planned growth was emphasized. The speaker mentioned the key point that Brigham had drilled 79 consecutive North Dakota wells, each with an average IP (initial production) of 2,800 boe/d (barrels of oil equivalent per day). This average is quite impressive for the area, making them a key player. [Comment: understatement.]

The company also has plans to construct [construct? how about drill?] almost 1400 to 2200 more wells than they already have, which indicates the company is just getting started with exploration, development, and production. According to numbers released by the company, a 6000 boe/d well could gross 8.7 million dollars, provide a rate of return at around 51%, and have a full return on investment in two years, which is much sooner than the life of the well, which is estimated at 25 years. If these numbers are true, then it would mean Brigham's larger wells could be looking at almost 23 years of making a solid profit, without any risk of losing money.

The point is well taken. But was there a typo in that last paragraph? The writer: "According to numbers released by the company, a 6000 boe/d well...."   Six thousand boe per day ---- one doesn't even see 6,000 boe as an IP -- should that have been 6,000 boe per month? Six thousand bbls/month gets you to 72,000 bbls/year which is about right for a Bakken well.

Whatever.

By the way, another thing about BEXP. It has been through the fire and it succeeded. Remember when cash flow was such that BEXP has to partner with USEG so it could survive. I find it all quite remarkable.