The Uinta Basin in Utah has not garnered as much attention as some of the better-known oil plays in the U.S., but it might just have its moment in the sun soon. The type of oil that is produced for this region will be in high need because it is one of the few heavy-oil sources in the country, and refiners HollyFrontier (NYSE: HFC) and Tesoro (NYSE: TSO) want to double their refining capacity in the region to process this crude.
This should be great news for new entrants into the region such as Ultra Petroleum (NYSE: UPL) and top driller Newfield Exploration (NYSE: NFX). Tune into the video below to learm more about why this oil-producing region is growing in importance by the day and how investors can best play this trend.
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