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KOG continues to be a Wall Street darling. Most of the data points in this article could be applied to most operators in the Bakken:

• a twelve-year drilling inventory
• 2013 production significantly higher than 2012 production
• it trades below its peers on a multiples basis

My favorite contributors with regard to the Bakken over at SeekingAlpha: Filloon, Zeits, Fitzsimmons.

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And then there are those who like EOG.

On Monday, March 31, EOG Resources announced that five new wells in the Eagle Ford formation were pumping more than 13K boe/day of crude and yielding 91%-97% oil. According to sources, these wells had individually produced between 2,314 and 3,071 boe/day and the crude that was discovered is very similar to the light oil that is produced off the coast of Louisiana.

If EOG Resources can continue to demonstrate significant production-related performance as it continues to develop newer wells, there's a very good chance the company's long-term earnings growth and long-term revenue growth could increase if such performance is sustained. In other words, if EOG can continue to develop wells that yield at least 92% oil while producing an average of 2,500 boe/day, there's a very good chance both earnings and revenue growth could be positively impacted for years to come.

That's a pretty tepid analysis.  Let's repeat that analysis: "In other words, if EOG can continue to develop wells that yield at least 92% oil while producing an average of 2,500 boe/day, there's a very good chance both earnings and revenue growth could be positively impacted for years to come."

Well, duh.

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Crunch year ahead for Norway's Arctic oil adventure. Reuters is reporting:

Rising costs, lack of infrastructure and a string of poor exploration results may mean Norway's Arctic oil exploration peaks this year, energy officials said on Tuesday.

Drilling in the Barents Sea will reach a record high this year with 12 wells but the sector could quickly shift its focus to more promising regions if the heavy investment fails to pay off, especially as firms around the world are already cutting back capital spending plans.

"There are dark clouds gathering on the horizon because of rising costs and investment cuts by energy companies," oil minister Tord Lien told Reuters on the sidelines of a conference. "This could be a critical year for projects in the Barents Sea."

"Costs are rising too high and too fast and the Norwegian costs have increased a bit more than elsewhere," he added. Exploration in 2013 was mixed and the few notable successes were more than offset by either dry wells or small gas discoveries, which tend to be uncommercial because the area lacks the extensive pipeline infrastructure found in places like the North Sea.