Excellent article. The Bakken Shale seems to be a singular case* insofar as it contains oil but the technology to exploit it is derived from the drilling techniques used for shale gas.
HES, one of my favorite oil plays, has a substantial position in the Bakken (see the first bullet in #msg-44527891).
…to vault the state [ND] past Oklahoma and Louisiana to become the country's fourth-biggest oil producer, after Texas, Alaska and California.
That’s a great trivia question—one where investors are probably more likely to know the answer than some people who work in the industry :- )
*If anyone knows of another similar formulation, please post.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
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