Possible Bakken Buyouts: Continental Resources
Just the other day we posted an article discussing the increased merger and acquisition activity in the energy markets. Specifically those surround the shale natural gas world. Well, let’s get to predicting! Looks like there are some additional buyout possibilities in this market. According toDavid White, Continental Resources may be one of those companies.
"In its 2008 report, the USGS estimated that there were 3 billion to 4.4 billion barrels of recoverable oil in the Bakken. Recently Continental Resources’ (CLR) CEO said there approximately 24B barrels of recoverable oil in the Bakken using current technology. Various other reports have claimed anywhere from 167B to 500B barrels of potentially recoverable oil exist in the Bakken. "
Find additional research and charts here: http://turnkeyoil.com/2011/11/01/possible-bakken-buyouts-continental-resources/