Trying to form an uptrend

Posted by bakkenexpert

Today is the first day in the last 2 weeks that our bakken plays have gained significantly even as oil stays steady around $124 per barrel. WLL and CLR lead the pack with 3-6% gains and others are close behind. The notable loser here is NOG as Barron’s wrote a negative piece on the company over the weekend but I believe NOG will bounce back as it continues it’s bakken development. NOG is still only a sub $300 million dollar company with low operating costs and a good business model which allows other companies to take on a good portion of the capital risk associated with drilling and exploration. It only takes 10 producing wells (avg 500-700 bbl per day) to justify the current market cap of $285 million so there is plenty of room for growth.

Stock Quotes:

bakken

Symbol	Last Trade		Change		Volume	Avg Vol (3m)
WLL	11:27AM ET	90.87	2.96	3.37%	158,597	1,123,770
MDU	11:22AM ET	31.21	0.09	0.29%	236,761	1,093,810
SM	11:27AM ET	45.66	1.27	2.86%	423,301	1,377,520
CLR	11:27AM ET	66.45	3.85	6.15%	447,042	1,759,480
EOG	11:27AM ET	106.71	2.66	2.56%	1,129,932	3,544,840
NOG	11:22AM ET	9.10	0.72	7.33%	374,036	599,233
KOG	11:22AM ET	3.27	0.03	0.93%	258,591	1,469,600
KDKN.OB	11:27AM ET	2.06	0.01	0.48%	13,040	242,083
BSIC.OB	10:37AM ET	1.72	0.03	1.71%	2,900	88,196.9
XTO	11:27AM ET	49.44	0.77	1.58%	4,192,825	9,304,030

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Tags: barrons CLR EOG NOG sm uptrend wll