- Goldman Sachs is bullish on Bakken after it came away from a trip to North Dakota with greater confidence in its outlook that activity in the shale play should exceed expectations, citing producers and drillers who were "uniformly confident" in resource expansion, efficiency gains and potential for improving well performance in coming years.
- The firm sees production growth of 130K bbl/day to 210K bbl/day through 2016, above the average of 110K bbl/day for the six months up to this July.
- Buy-rated Oasis Petroleum (OAS +3.4%) and Continental Resources (CLR +3.3%) (earlier) are Goldman's favorites among Bakken-exposed oil E&P companies; also listed as ready to reap Bakken benefits are Northern Tier Energy (NTI +4%), Halliburton (HAL +0.7%), Enbridge (ENB +0.2%) and Canadian Pacific Railway (CP +0.6%).
Bakken still has legs and will surprise investors, Goldman says
Sep 24 2013, 12:26 ET