Continental Resources, Inc. (CLR)

[PaigeOne]

CLR is the largest operating company in the Bakken Shale formation with over 900,000 acres as of 2012. On 5/2/13, the United States Geological Survey (USGS) released an updated oil and gas resource assessment for the Bakken Formation and a new assessment for the Three Forks Formation in North Dakota, South Dakota and Montana.

The updated assessment for these fields represents a twofold increase over what has previously been thought. Specifically, the assessments found that the formations contain an estimated mean of 7.4 billion barrels (BBO) of undiscovered, technically recoverable oil.

Tomorrow's earnings call should provide some positive insight into how well CLR is positioned!