The Bakken formation is estimated to contain hundreds of billions of barrels of crude oil, and real estate in the region is going fast. So it's no surprise that Magnum Hunter Resources (NYSE: MHR) was up 6% today after announcing that its subsidiary Bakken Hunter had purchased 20,000 acres in the region, upping the company's total stake to 180,000 acres. In this video, Motley Fool energy analyst Taylor Muckerman tells us when and how Magnum Hunter plans to capitalize on this new purchase, as well as discussing some other players that have recently moved into the area that investors should be watching.
