BRIGHAM EXPLORATION CO (BEXP)

[OilStockReport]

Good play for the 2nd half of the year? I'd say so.

My largest holding is Brigham (BEXP). I began purchasing it on May 4th of this year. For those who read my articles, you already know why I like Brigham. Analysts estimate Brigham will grow on average 40.8% per year for the next five years. Much of this growth is figured in this year at 138.3% with additional growth of 65.7% next year. Its earnings estimates are derived from 22 analysts covering the stock. Although much has been said about mark to market hedging losses, Brigham has been exceeding earnings guidance for at least four quarters.

June of 2010-Beat by 44.4%
September of 2010-Beat by 50%
December of 2010-Beat by 33.3%
March of 2011-Beat by 16%

Brigham beat its first quarter numbers at a difficult time. One of the worst North Dakota winters in recent memory bogged down many of the Bakken producers. Brigham was also able to cut costs to cover increasing employee wages and to pay well service costs. Brigham currently has a possible 2221 locations in the Williston Basin. It estimates $10.9 million PV-10/well (at 5/31/11 NYMEX pricing). This basically means that at 600,000 barrels of oil equivalent per well, Brigham expects to net $10.9 million. Brigham also has the top four wells with respect to initial production (IP rate) and has seven of the top ten. For a more specific outlook on Brigham.