Brigham Exploration Company Secures Additional Equity Commitments to Expand Permian Basin, Non-Operated Leasehold Position

AUSTIN, Texas, March 18, 2019 /PRNewswire/ -- Brigham Exploration Company, LLC is pleased to announce that its subsidiary, BEXP I, LP ("Brigham," "BEXP," or the "Company"), has closed on equity commitments from institutional and private investors, complimenting meaningful equity capital provided by the Company's founders.  BEXP is focused on the acquisition and management of non-operated working interests in the Midland and Delaware Basins. 

Founded by Ben M. "Bud" Brigham, BEXP began assembling a talented team of industry professionals and acquiring non-operated working interests in the Spring of 2017.  Mr. Brigham previously founded the original Brigham Exploration (formerlyNYSE: BEXP) (sold to Statoil in 2011 for $4.7 billion), Brigham Resources (sold to Diamondback Energy for $2.6 billion), Brigham Minerals (one of the largest mineral & royalty companies in the United States), and Atlas Sand (currently operates two sand mines in the Permian Basin).

"Our goal is to create long-term value by leveraging our knowledge base and expertise to invest in the Permian Basin's continued growth as the premier oil and gas province. As the basin progresses toward development mode, we see no better way to capture optimal well-head returns than aggregating a diverse portfolio of non-operated acreage with top tier operators," commented Mr. Brigham.

In addition to Mr. Brigham, BEXP's management team and directors include several key individuals that bring many years of experience and expertise in the oil & gas industries:

• Keith Lilie, President & CEO
• Jim Mothershead, COO
• John Turner, CFO
• Thomas Fitz, Director of Finance
• Ricky Cox, Exploration Manager
• Vince Brigham, Director
• Dick Schmidt, Director
• Jim Edsel, Director

For more information about the Company, please visit www.brighamexploration.com.

SOURCE Brigham Exploration

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http://www.brighamexploration.com/