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Author: Company Profile
Author: Yi WuPublisher:
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Languages : en
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Brigham Exploration Co., an Austin energy-exploration company, was the first in the industry to find oil and gas with the large-scale use of three-dimensional seismic technology. Its brave move was to use the technology to find oil and gas in proven fields, while the industry, dismissing it as too expensive, only used it to probe borders of proven oil fields. Bud Brigham, the company's CEO and a geology graduate from the University of Texas at Austin, launched the company in 1990 after tired of working for other oil company and 3-D seismic provider. Brigham's maverick approach and the skyrocketing energy prices have allowed the small independent develop a profitable niche for itself in an industry dominated by energy giants; the company's 2005 net profit margin, a measure of profitability that measures the ratio of net income to revenue, was 28.3 percent, double the industry's average rate.