A land purchase in South Dakota by a small, Texas-based independent Bedrock Oil & Gas Co. has led to speculation that the state could possibly hold a Bakken-sized oil formation hosting 3 to 24 billion barrels of oil.
It was a stock that people loved to hate. During the first half of 2008, investors cringed when they saw rallies in the price of oil. As crude surged to $150 a barrel last year, equity investors bemoaned the hit, and worried and gossiped about the outlook for consumer-oriented firms which would need to spend more on gas. Then the tide turned.
Brookston Resources, Inc., a privately-held crude oil exploration and production company, received the prestigious Wildcatter of the Year Award at the annual Illinois Oil & Gas Association convention. For full story, click here
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