12 Best Energy Stocks to Buy Now
OptionsZone Experts, June 3, 2009
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Energy Play #5: Northern Oil & Gas (NOG)
By Tobin Smith
Northern Oil & Gas (NOG) is an exploration-stage company that engages in the acquisition, exploration, exploitation, development and production of oil and natural gas properties. The company has 70,000 net acres in the Bakken Shale formation in North Dakota, which is the hottest oil drilling area in the United States.
The company has partnered with all the major players in the area -- Continental Resources (CLR) , EOG Resources (EOG), Hess Corporation (HES) , etc. -- who need NOG because of its acreage. NOG is currently participating in the drilling or completion of 18 additional wells in the Bakken and Three Forks shale regions in North Dakota. None of that revenue is booked yet -- buts it's coming … in a gusher!
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