The Bakken Shale formation of North Dakota and Montana was back in focus for investors earlier this week when Whiting Petroleum Corp. (NYSE: WLL) announced plans to purchase Kodiak Oil & Gas Corp. (NYSE: KOG).
Through the deal, WLL will pay $3.8 billion in stock and $2.2 billion in debt. The combined company produced over 107,000 barrels of oil equivalent in the first quarter of 2014.
But WLL isn't the only company profiting from the Bakken Shale.
The Bakken Shale formation of North Dakota and Montana was back in focus for investors earlier this week when Whiting Petroleum Corp. (NYSE: WLL) announced plans to purchase Kodiak Oil & Gas Corp. (NYSE: KOG).
Through the deal, WLL will pay $3.8 billion in stock and $2.2 billion in debt. The combined company produced over 107,000 barrels of oil equivalent in the first quarter of 2014.
But WLL isn't the only company profiting from the Bakken Shale.
The U.S. oil boom illustrates how energy costs can actually rise as the volume of crude surges. Money Morning's Dr. Kent Moors explains.
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