Big article recently in Business Week about how the advent of horizontal drilling and hydraulic fracturing has dramatically changed the fortunes of both big and small oil companies operating in North Dakota and Montana Bakken Basin oil fields. The article discusses the pending sale of Brigham Exploration to Statoil ASA at $12,000 per acre and mentions that
Whiting, Oasis and Continental Resources may also be likely targets of the major energy companies. Lower well completion costs are helping to raise the price per acre likely to be paid by the larger energy companies. All this is good news as the involvement of the major energy companies should mean there is a lower perceived level of risk and thus time for the bigger guys to bring there enormous capital budgets to develop the infrastructure for roads, rail lines, rail depots, water, oil, and gas gathering lines, natural gas processing plants and pipelines into the region which again will create thousands of jobs in North Dakota in both the oil fields and transportation, construction and general commerce in the coming decade.
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