CLR and WLL
Posted: Mon Sep 15, 2014 2:50 pm
Bakken producers Continental, Whiting started at Buy at Canaccord
Sep 15 2014, 14:57 ET | About: Continental Resources, Inc. (CLR) | By: Carl Surran, SA News Editor
Canaccord initiates coverage of two top Bakken shale producers, Continental Resources (CLR +1%) and Whiting Petroleum (WLL +0.5%), with Buy ratings and respective price targets of $92 and $108 (I, II).
CLR is the largest leaseholder in the Williston Basin and is an industry leader in downspace and enhanced completions testing in the play, and additional upside could come from the development of the SCOOP in Oklahoma, where CLR also is the largest leaseholder and producer.
WLL trades at a discount to peers that Canaccord considers unwarranted; the firm sees substantial upside given WLL's ~845K net acres in the core Williston Basin, which can be further exploited via downspacing and enhanced completion techniques.
Sep 15 2014, 14:57 ET | About: Continental Resources, Inc. (CLR) | By: Carl Surran, SA News Editor
Canaccord initiates coverage of two top Bakken shale producers, Continental Resources (CLR +1%) and Whiting Petroleum (WLL +0.5%), with Buy ratings and respective price targets of $92 and $108 (I, II).
CLR is the largest leaseholder in the Williston Basin and is an industry leader in downspace and enhanced completions testing in the play, and additional upside could come from the development of the SCOOP in Oklahoma, where CLR also is the largest leaseholder and producer.
WLL trades at a discount to peers that Canaccord considers unwarranted; the firm sees substantial upside given WLL's ~845K net acres in the core Williston Basin, which can be further exploited via downspacing and enhanced completion techniques.