Artwork for podcast The Stock Power Podcast
Look Beyond Texas: High-Growth Energy Co. in No. 2 Oil State
Episode 17430th September 2022 • The Stock Power Podcast • Money & Markets
00:00:00 00:11:30

Share Episode

Shownotes

Texas is the largest oil-producing state in the U.S.

In 2020, it pumped 1.8 million barrels out of the ground every day.

That makes sense considering its rich deposits and access to the Gulf Coast.

The second-largest oil-producing state surprised me the most.

North Dakota fills around 431,000 barrels daily — the Bakken Formation of the Williston Basin accounts for most of these.

In today's episode of The Stock Power Podcast, I share a 93-rated Power Stock that drills for oil and gas in the Williston Basin.

Texas produces the most oil because of its vast size and offshore drilling in the Gulf of Mexico.

But North Dakota has access to the Bakken Formation.

That’s 200,000 square miles of land that covers the western part of North Dakota, eastern Montana and southern Saskatchewan.

The U.S. Geological Survey estimates 4.3 billion barrels of oil and 4.9 trillion cubic feet of natural gas in the Bakken Formation.

This week's Power Stock is a company that drills for those products in the Bakken:

·     It earns a "Strong Bullish" 93 out of 100 on our Stock Power Ratings system!

·     The company increased quarterly sales by 100.8% in the most recent quarter.

·     Its stock comes with a 4.12% dividend yield.

See why this leader in the oil drilling industry will continue to rise in the years to come.

Be sure to subscribe to our YouTube channel for more videos.

Have something you want us to talk about? Email Feedback@MoneyandMarkets.com and give us your thoughts.

Check out MoneyandMarkets.com and sign up for our free newsletters that deliver you the guidance you need to make money — no matter what the market throws at you.

Also, follow me on Twitter.