Buyers looking to extract the best deals from Bakken shale oil may turn to Oasis Petroleum Inc. (OAS) and Whiting Petroleum Corp. (WLL) as the cost to find and produce a barrel of crude soars.Again, note the $12,000/acre purchase price.
Among the biggest U.S. explorers in the 200,000 square-mile (518,000 square-kilometer) geological formation centered in North Dakota, Oasis and Whiting owned the most Bakken shale acreage versus their takeover value, according to data compiled by Bloomberg. On that basis, both control more land than Brigham Exploration Co. (BEXP), which sold itself to Statoil ASA (STL) this week for more than $12,000 per Bakken acre in the most expensive major acquisition in the region, said Pritchard Capital Partners LLC.
Oasis and Whiting, along with Continental Resources Inc., may now attract interest from Exxon Mobil Corp. (XOM), Royal Dutch Shell Plc (RDSA) and India’s Reliance Industries Ltd. (RIL) as the cost to extract Bakken shale oil falls, SunTrust Robinson Humphrey and RBC Capital Markets said.
Wednesday, October 19, 2011
For Investors Only -- Oasis and Whiting The Best Deals In The Bakken -- Bloomberg -- The Bakken, North Dakota, USA
Link here -- sent to me by Gregg -- otherwise I would have missed the article.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.