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M&A Rumors in the Bakken

By Taylor Muckerman and Joel South - Nov 8, 2012 at 6:49PM

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Are there potential buyouts on the horizon?

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.

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Stocks Mentioned

Whiting Petroleum Corporation Stock Quote
Whiting Petroleum Corporation
WLL
Statoil ASA Stock Quote
Statoil ASA
EQNR
$26.35 (3.09%) $0.79
Oasis Petroleum Inc. Stock Quote
Oasis Petroleum Inc.
OAS

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