Daily Roundup – 8/25/08

Posted by bakkenexpert

It looked like it was going to be decidedly negative day for Bakken stocks today but in the afternoon, most of the losses were pared as Tropical Storm Gustav formed in the Caribbean which kept oil prices above $115.   Many of our plays including WLL and CLR have gained close to 10% in the last week or so and we are hoping that the gains have staying power with the latest uptick in oil prices.    Also,  in the last 2 weeks major analysts have issued the following positive recommendations/upgrades on Bakken plays: The general uptrend continues to be intact and as stated before,  the price of oil needs to stabilize before a longer term uptrend can be forged by our basket bakken stocks.

Company                                    Analyst                                      Rating

Kodiak Oil & Gas (KOG)                        RBC Capital Markets                               Outperform

Whiting Petroleum (WLL)                      Bank of America                                     Buy

EOG Resources                                     Oppenheimer                                         Buy

Saint Mary’s Land & Exploration          Sun Trust Rbsn Humphrey                      Buy

bakken

Symbol	Last Trade		Change		Volume	Avg Vol (3m)
WLL	4:02PM ET	93.42	0.29	0.31%	730,230	1,128,700
MDU	4:03PM ET	32.06	0.41	1.26%	661,728	1,110,280
SM	4:00PM ET	42.28	0.33	0.77%	921,540	1,467,120
CLR	4:02PM ET	49.53	0.92	1.82%	2,005,769	1,886,790
EOG	4:02PM ET	102.21	1.43	1.38%	2,470,874	3,853,550
NOG	4:00PM ET	7.19	0.25	3.36%	169,975	616,788
KOG	4:00PM ET	2.98	0.00	0.00%	717,581	1,377,920
KDKN.OB	3:28PM ET	1.63	0.12	6.86%	20,483	164,523
BSIC.OB	3:27PM ET	1.76	0.01	0.57%	7,825	60,198.4
XTO	4:02PM ET	48.18	0.16	0.33%	9,251,943	12,135,100

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Strong Bakken buying today on dollar weakness

Posted by bakken

Has it gotten to the point that we hope that hurricanes will form in the Gulf Coast to prop up our oil stocks? Sadly enough, for many, it definitely has, although they will state they aren’t looking for any human losses, just some disruption in supply. Today, tropical disturbance Fay missed oil rigs in the Gulf of Mexico, but shareholders of Bakken stocks were probably pleased that a weak dollar combined with an uptick in heating oil buoyed our plays today. Among the big gainers today were 2 of the “pure plays” in the group Continental Resources (CLR) and Whiting Petroleum (WLL) which were both up more than 5%. In addition, Venezuela’s Oil Minister Rafael Ramirez indicated that it’s may propose an oil production cut at the next OPEC meeting if crude prices decline further. The good news for Bakken investors is that oil does appear to be oversold. For example, the chart below indicates that the Energy SPDR (XLE) is currently trading below its 20,100 & 200 Day Moving Averages and trading close to its lower Bollinger Band. Volatility, however will continue to reign and expect to see swings of $4 and up within a matter of hours as competing forces battle to determine the long term trend of oil.

Symbol	Last Trade		Change		Volume	Avg Vol (3m)
WLL	4:01PM ET	89.64	5.99	7.16%	744,910	1,180,390
MDU	4:02PM ET	31.58	0.11	0.35%	564,635	1,125,130
SM	4:01PM ET	42.99	1.79	4.34%	919,588	1,444,730
CLR	4:04PM ET	47.65	4.11	9.44%	2,383,706	1,871,040
EOG	4:02PM ET	99.88	5.14	5.43%	4,166,094	3,844,690
NOG	4:00PM ET	7.39	0.05	0.68%	311,832	641,200
KOG	4:00PM ET	3.03	0.13	4.48%	758,228	1,459,890
KDKN.OB	3:59PM ET	1.65	0.15	8.28%	35,126	195,115
BSIC.OB	2:26PM ET	1.60	0.05	3.03%	20,993	78,292.3
XTO	4:01PM ET	46.80	1.35	2.97%	15,414,211	11,663,700

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