Williston Basin Stocks Could Be 'In Play' After Exxon Mobil's (XOM) Big Deal
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Rating Summary:
9 Buy, 4 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
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Exxon Mobil's (NYSE: XOM) deal to acquire Bakken assets from Denbury Resources (NYSE: DNR) has speculators buzzing in the sector today, with a specific focusing on firms with assets in the Williston Basin.
Analysts at Wunderlich note that Exxon paid approx. $20/boe for proven reserves, or $130k per flowing boe. These are strong metrics, the analyst notes, and they see potential for Exxon to expand in the area or the deal could prompt other majors to enter the area.
Kodiak Oil (NYSE: KOG), which has assets primarily concentrated in the Williston Basin, could be worth $13-$15 per share based on today's deal, or 37-59% above current levels, the firm notes.
Another Williston Basin-play, Whiting Petroleum (NYSE: WLL), could be worth $70 per share, or 44% above current levels, and is a prime takeover target, the firm notes.
Other Williston plays include: Halcon Resources (NYSE: HK), Triangle Petroleum (NYSE: TPLM), and Northern Oil (NYSE: NOG).
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Analysts at Wunderlich note that Exxon paid approx. $20/boe for proven reserves, or $130k per flowing boe. These are strong metrics, the analyst notes, and they see potential for Exxon to expand in the area or the deal could prompt other majors to enter the area.
Kodiak Oil (NYSE: KOG), which has assets primarily concentrated in the Williston Basin, could be worth $13-$15 per share based on today's deal, or 37-59% above current levels, the firm notes.
Another Williston Basin-play, Whiting Petroleum (NYSE: WLL), could be worth $70 per share, or 44% above current levels, and is a prime takeover target, the firm notes.
Other Williston plays include: Halcon Resources (NYSE: HK), Triangle Petroleum (NYSE: TPLM), and Northern Oil (NYSE: NOG).
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