Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Brigham Exploration (Nasdaq: BEXP) flew up 20% today after Norway's oil giant Statoil (NYSE: STO) said it would buy it for $4.4 billion.

So what: The all-cash deal values Brigham at $36.50 per share and represents about a 20% premium to its Friday closing price. Statoil is making the move to strengthen its position in U.S. unconventional assets, but given the stock's 2% decline today, Wall Street doesn't seem overly thrilled with the purchase price.

Now what: I'd look into this little dip in Statoil as a possible entry point. The deal should give the company 375,000 net acres in the Williston basin, which has production potential from the largest oil accumulations in the country: the Bakken and Three Forks formations. When you couple that fresh growth potential with a solid, steadily growing dividend (currently yielding nearly 4%), Statoil's total return prospects seem too attractive to ignore.

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Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Motley Fool newsletter services have recommended buying shares of Statoil. Try any of our Foolish newsletter services free for 30 days.

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