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 (NYS: 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.
Kodiak Oil & Gas is definitely a dynamic growth story in the Bakken region, but with great opportunities come great risks. Before you hitch your horse to this carriage let us help you with your due diligence. To see if Kodiak is currently a buy or sell, check out our new premium report, which comes with a year of timely updates and analysis.
The article Who's Gobbling Up the Bakken? originally appeared on Fool.com.
Joel South, Taylor Muckerman, and The Motley Fool have no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.