btrain
13 years ago
11/23/2011 News: Statoil to Make Additional Filings in Connection With Brigham Acquisition
Statoil (NYSE: STO) (OSLO: STL) and Brigham Exploration Company (NASDAQ: BEXP) have decided to make voluntary filings with the U.S. Committee on Foreign Investment in the United States (CFIUS) in connection with Statoil's previously announced acquisition of Brigham. The filing is voluntary and consistent with Statoil's policy to cooperate with all relevant governmental authorities in the United States, including CFIUS. Statoil will pay for shares consistent with the pending tender offer. Neither the filing nor completion of the CFIUS review is a condition to closing of Statoil's pending tender offer for shares of common stock of Brigham Exploration. The initial tender offer is currently scheduled to expire at midnight NYC time on November 30, 2011.
Additional Information
This communication is neither an offer to purchase nor a solicitation of an offer to sell any shares of the common stock of Brigham Exploration Company or any other securities. Statoil ASA and Fargo Acquisition Inc. have filed a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and related documents, with the United States Securities and Exchange Commission (the "SEC"). The offer to purchase shares of Brigham common stock (the "Offer") will only be made pursuant to the offer to purchase, the letter of transmittal and related documents filed with such Schedule TO. INVESTORS AND STOCKHOLDERS ARE URGED TO READ BOTH THE TENDER OFFER STATEMENT, AS FILED AND AS IT MAY BE AMENDED FROM TIME TO TIME, AND THE SOLICITATION/RECOMMENDATION STATEMENT REGARDING THE OFFER, AS FILED AND AS IT MAY BE AMENDED FROM TIME TO TIME, BECAUSE THEY CONTAIN IMPORTANT INFORMATION REGARDING THE OFFER. The solicitation/recommendation statement on Schedule 14D-9 has been filed with the SEC by Brigham. Investors and stockholders may obtain a free copy of these statements (when available) and other documents filed with the SEC free of charge at the website maintained by the SEC at www.sec.gov or by directing such requests to Innisfree M&A Incorporated at (877) 687-1875.
About Brigham Exploration
Brigham Exploration Company 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. For more information about Brigham Exploration, please visit our website at www.bexp3d.com or contact Investor Relations at 512-427-3444.
Forward-Looking Statement Disclosure
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements within the meaning of the federal securities laws. Important factors that could cause our actual results to differ materially from those contained in the forward-looking statements include early initial production rates which decline steeply over the early life of wells, particularly our Williston Basin horizontal wells for which we estimate the average monthly production rates may decline by approximately 70% in the first twelve months of production, our growth strategies, our ability to successfully and economically explore for and develop oil and gas resources, anticipated trends in our business, our liquidity and ability to finance our exploration and development activities, market conditions in the oil and gas industry, our ability to make and integrate acquisitions, the impact of governmental regulation and other risks more fully described in the company's filings with the Securities and Exchange Commission. Forward-looking statements are typically identified by use of terms such as "may," "will," "expect," "anticipate," "estimate" and similar words, although some forward-looking statements may be expressed differently. All forward-looking statements contained in this release, including any forecasts and estimates, are based on management's outlook only as of the date of this release, and we undertake no obligation to update or revise these forward-looking statements, whether as a result of subsequent developments or otherwise.
Statoil Further Information
Investor relations Norway:
Hilde Merete Nafstad, senior vice president, investor relations
mobile: +47 957 83 911
Investor relations US:
Morten Sven Johannessen, vice president, investor relations USA
mobile: +1 203 570 2524
Press Norway:
Jannik Lindbaek Jr., vice president, media relations
mobile: +47 977 55 622
Bard Glad Pedersen, press spokesperson, media relations
mobile: +47 918 01 791
Press US:
Ola Morten Aanestad, vice president, North America communication
mobile: +1 713 498 0585
btrain
13 years ago
Latest BEXP Headline News
Finkelstein Thompson LLP Announces Investigation of Brigham Exploration Co.
Monday 10/17/2011 01:06 PM ET - BusinessWire via COMTEX
The law firm of Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Brigham Exploration Co. ("Brigham" or the "Company") (NASDAQGs: BEXP), concerning the proposed acquisition of the Company by Statoil ASA. Under the terms of the transaction, Brigham shareholders would receive $36.50 per share, in a deal worth approximately $4.3 billion.
The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Brigham Exploration Company
Monday 10/17/2011 12:30 PM ET - BusinessWire via COMTEX
Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Brigham Exploration Company ("Brigham Exploration" or "BEXP") (NASDAQ: BEXP) to Statoil ASA for shareholders. Under the proposed buyout, Brigham Exploration shareholders will receive only $36.50 in cash for each share of Brigham Exploration/BEXP stock owned, which is well below the target price of $45.00 per share recently announced by analysts and below the closing price of BEXP shares as recently as March 2011.
Energy News: Statoil Buys Brigham Exploration, Anadarko Settles with BP
Monday 10/17/2011 12:29 PM ET - MarketNewsVideo.com via COMTEX
Onshore oil and gas exploration and production company Brigham Exploration (BEXP) said today it has agreed to be acquired by Statoil (STO) for $36.50 per share in cash. The Brigham board of directors has approved the deal, and is recommending that shareholders accept the offer and tender their shares.
Glancy Binkow & Goldberg LLP Announces Investigation of Brigham Exploration Company
Monday 10/17/2011 12:10 PM ET - BusinessWire via COMTEX
Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of Brigham Exploration Company ("Brigham" or the "Company") (NASDAQ: BEXP) related to the proposed acquisition of the Company by Statoil ASA. The transaction is valued at approximately $4.4 billion or $36.50 per share.
btrain
13 years ago
Oct 17, News - Brigham Exploration Company Announces Merger Agreement With Statoil ASA
Date: 10/17/2011 @ 5:50AM
Source: MarketWire
Stock: Brigham Exploration (BEXP)
Quote: 30.36 0.0 (0.00%) @ 8:29AM
Brigham Exploration Company (NASDAQ: BEXP) and Statoil ASA (OSE: STL) (NYSE: STO) announced today that the companies have entered into a definitive merger agreement for Statoil ASA to acquire Brigham Exploration Company for US$36.50 per share by means of an all-cash tender offer for all of the issued and outstanding shares of Brigham Exploration Company. The Brigham Exploration Company board of directors has unanimously recommended to its shareholders that they accept the offer.
Bud Brigham Chairman, President and CEO stated: "A bigger enterprise with a larger balance sheet will be better positioned to take advantage of our large and growing inventory of Williston Basin drilling locations and the associated assets. In addition to their very strong balance sheet, Statoil empowers their employees to leverage their impressive technological resources to innovate, matching up very well with our culture and our entrepreneurial technical staff. We are excited to see this transaction completed and look forward to having our assets and employees integrate with the Statoil organization and the substantial asset position that they are growing in their onshore U. S. business."
The tender offer is expected to commence by October 31, 2011. The acquisition is subject to the terms and conditions set forth in the merger agreement, including a condition that at least a majority of the outstanding shares of Brigham Exploration Company are tendered, that the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired or been terminated and other customary conditions. If the tender offer is completed, un-tendered shares of Brigham Exploration Company will be converted into the right to receive the same US$36.50 per share price paid in the tender offer. The transaction is expected to close late in 2011 or early in 2012.
Brigham Exploration Company has engaged Jefferies & Company, Inc. as its financial advisor in connection with this Offer. Its legal advisor is Thompson & Knight LLP.
Additional Information
The tender offer described in this communication (the "Offer") has not yet commenced, and this communication is neither an offer to purchase nor a solicitation of an offer to sell any shares of the common stock of Brigham Exploration Company or any other securities. On the commencement date of the Offer, a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and related documents, will be filed with the United States Securities and Exchange Commission (the "SEC"). The offer to purchase shares of Brigham Exploration Company common stock will only be made pursuant to the offer to purchase, the letter of transmittal and related documents filed with such Schedule TO. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ BOTH THE TENDER OFFER STATEMENT AND THE SOLICITATION/RECOMMENDATION STATEMENT REGARDING THE OFFER, AS THEY MAY BE AMENDED FROM TIME TO TIME, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. The merger agreement and the tender offer statement will be filed with the SEC by Statoil ASA and the solicitation/recommendation statement will be filed with the SEC by Brigham Exploration Company. Investors and security holders may obtain a free copy of these statements (when available) and other documents filed with the SEC at the website maintained by the SEC at www.sec.gov.
About Brigham Exploration
Brigham Exploration Company 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. For more information about Brigham Exploration, please visit our website at www.bexp3d.com or contact Investor Relations at 512-427-3444.
Forward-Looking Statement Disclosure
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements within the meaning of the federal securities laws. Important factors that could cause our actual results to differ materially from those contained in the forward-looking statements include early initial production rates which decline steeply over the early life of wells, particularly our Williston Basin horizontal wells for which we estimate the average monthly production rates may decline by approximately 70% in the first twelve months of production, our growth strategies, our ability to successfully and economically explore for and develop oil and gas resources, anticipated trends in our business, our liquidity and ability to finance our exploration and development activities, market conditions in the oil and gas industry, our ability to make and integrate acquisitions, the impact of governmental regulation and other risks more fully described in the company's filings with the Securities and Exchange Commission. Forward-looking statements are typically identified by use of terms such as "may," "will," "expect," "anticipate," "estimate" and similar words, although some forward-looking statements may be expressed differently. All forward-looking statements contained in this release, including any forecasts and estimates, are based on management's outlook only as of the date of this release, and we undertake no obligation to update or revise these forward-looking statements, whether as a result of subsequent developments or otherwise.
Contact:
Rob Roosa
Director of Finance & Investor Relations
(512) 427-3300
btrain
13 years ago
Brigham Exploration Company to Present at EnerCom's The Oil & Gas Conference
Date: 08/11/2011 @ 4:30PM
Source: MarketWire
Stock: Brigham Exploration (BEXP)
Members of Brigham Exploration Company's (NASDAQ: BEXP) management team will be presenting at EnerCom's The Oil & Gas Conference. A copy of our corporate presentation will be available on the Company's website (www.bexp3d.com) beginning Monday evening, August 15, 2011. Details regarding the conference are as follows:
Date & Time:
Tuesday, August 16, 2011 at 9:40 AM Mountain Time
Presenter:
Ben M. "Bud" Brigham - Chairman, President and CEO
Attendee:
Eugene B. Shepherd, Jr. - Executive Vice President and CFO
Attendee:
Lance Langford - Executive Vice President of Operations
Address for Webcast & Replay:
http://www.investorcalendar.com/CEPage.asp?ID=165369 or www.bexp3d.com
Venue:
The Westin Denver Downtown
1672 Lawrence Street
Denver, CO 80202
boo boo
13 years ago
I understand you now. Yes, pt of $30 could be hit tomorrow and that would be a nice round number where temporary resistance would be. For how long, who knows, maybe just intraday. Anal-yst have pt in the $40's and boe production for next q is supposed to increase by 4,000, taking daily average above 16k. JPM, which I think is a joke, has pt of $27.5 for end of this year (I think!). Good luck to you!
btrain
13 years ago
EnerCom, Inc. To Host The Oil & Gas Conference® 16 August 14-18, 2011
50 minutes ago - PR Newswire
EnerCom, Inc. (www.enercominc.com) will host The Oil & Gas Conference® 16 (www.theoilandgasconference.com) at the Westin Denver Downtown (formerly the Westin Tabor Center) on August 14-18, 2011 in Denver. The Conference is the oldest and largest energy investment conference hosted in Denver, showcasing more than 100 presenting companies over four days with a combined enterprise value of approximately $1.5 trillion.
Brigham Exploration Shares Climbing Higher, Up 2.8%
2 hours 22 minutes ago - Financial News Network Online - Market Movers
One of today's notable stocks on the rise is Brigham Exploration (NASDAQ:BEXP), up2.8% to $31.49. The S&P is currently trading 0.2% lower to 1,337 and the Dow Jones Industrial Average is trading fractionally lower to 12,570.