As hard-to-reach oil becomes a bigger part of the overall production mix, we see companies going offshore, to the onshore shales, and to the oil sands. The one thing these types of production have in common is that they're all unconventional.

As mergers and acquisitions continue at their brisk pace, a lot of the bigger players have been looking to increase their exposure to high-quality plays at a reasonable price. One of the areas where M&A has been strong has been in the Williston Basin, where companies have been trying to get access to the Bakken and Three Forks plays. Whiting Petroleum has been one name cited as a likely target. Watch the video for the full analysis

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Matthew Argersinger and Paul Chi have no positions in the stocks mentioned above. The Motley Fool owns shares of ExxonMobil. Motley Fool newsletter services recommend Chevron. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.