Brigham Exploration Company announced the completion of a well on its Bakken Shale acreage. Brigham Exploration Company has a 31% working interest in the well.

The Lee 16-21 #1H had an initial production rate during its first 24 hours of production of approximately 1,544 barrels of oil equivalent (BOE), composed of 1,341 barrels of oil and 1.22 million cubic feet of natural gas.

“We’re very pleased with the early production performance of our Lee well. It’s our fifth consecutive long lateral, multi-stage completion in our approximate 100,000 net acres in Rough Rider, with early peak production rates averaging approximately 1,752 barrels of oil equivalent per day,” said Bud Brigham, the CEO of Brigham Exploration Company.

Brigham Exploration Company said the well was completed using a multi stage hydraulic fracturing operation. Hydraulic fracturing involves injecting water and other fluids into the well to stimulate and increase production.

The well is located on the company’s

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Brigham Exploration Company (BEXP) announced results for one of its wells in the Bakken Shale today, prompting a 7% gain in its share price and securing a spot on the Zacks #1 Rank Top Performers List.

< ?DART(15);?> In addition to this company-specific news, BEXP is also getting a hand from an improving outlook for oil stocks as oil prices have finally broken out of its trading range.

Brigham Exploration is an independent exploration, development and production company that utilizes advanced exploration, drilling and completion technologies to systematically explore for, develop and produce domestic onshore oil and natural gas reserves.

It's 1 of 3 companies from the Oil-U.S. Exploration & Production industry on today's Zacks #1 Rank List, which includes 215 stocks in total. The other 2 names are Linn Energy, LLC (LINE) and Plains Exploration & Production Company (PXP).

Earnings estimates

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