Could We See The Spanish In The Bakken?

Updates

Later, September 16, 2013: at SeekingAlpha, a writer takes up the issue of Repsol buying an American independent, KOG vs WLL faceoff. 
 

Original Post

A reader alerted me to this news story posted over at the MDU message board. It is a Wall Street Journal article:

Spanish oil major Repsol SA is shopping for a North American oil company as it seeks to increase its investments in politically stable countries and the U.S. energy boom, according to people familiar with the talks.

The Madrid-based company has told investment bankers in recent months that it is ready to spend $5 billion to $10 billion for a U.S. or Canadian exploration and production company, preferably one that produces much more oil than natural gas, these people said.

A spokesman for Repsol said he couldn't comment on the company's acquisition plans.

A North American acquisition would help Repsol bolster its presence in stable-market economies. The Spanish company is among the integrated European oil companies most heavily exposed to frontier oil-exploration areas such as Morocco and Sierra Leone, according to a recent Bernstein Research report. Working in those countries carries the promise of more-profitable oil production as well as risks.

I can name about four public companies and maybe one or two private operators in the Bakken that might fit this bill.