Today, Motley Fool Energy Analyst Taylor Muckerman takes us through some recent rumors around the Bakken regarding potential buyouts. Whiting Petroleum (NYSE:WLL) spiked up 12% to 13% this morning amid talk that the Norwegian company Statoil ASA (NYSE:STO) may offer to purchase the company for $65 per share. The rumor was later denied, but Whiting's stock rally persisted, and extended to some of the other players in the Bakken, as well. This is the largest area of oil and gas in the continental U.S., and estimates on the amount of resources that are still untapped in that area are increasing every year. This definitely makes this type of speculation something to follow very closely.
Joel South has no positions in the stocks mentioned above. Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Motley Fool newsletter services recommend Statoil (ADR). Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.
