Posted: Sep 26, 2013 9:52 AM by Jay Kohn - MTN News
BILLINGS - The latest buzz from the Bakken is now turning heads on Wall Street.
An article this week in the Wall Street Journal, details how analysts at Goldman Sachs are now saying the Bakken shale formation will be a pleasant surprise for investors.
Goldman Sachs, the global investment banking firm, sent a research team to North Dakota last week.
The team returned with greater confidence that Bakken oil production will exceed expectations.
The Goldman Sachs team picked its favorites among oil exploration and production companies, singling out Continental Resources, Inc. and Oasis Petroleum, rating both companies a "buy" based on growth potential.
Other firms ready to reap the Bakken benefits according to Goldman Sachs, refiner Northern Tier Energy LP, oilfield services firm Haliburton, and transportation and pipeline companies Canadian Pacific Railway LTd and Enbridge, Inc.
As for production, Goldman Sachs echoed what Bakken insiders discussed at a panel last week at the Montana Economic Development Jobs Summit in Butte, mainly that oil production out of the Bakken will continue to grow from 130-thousand barrels/day - to 210-thousand barrels/day through 2016.