Dan Dicker, Energy contributor at thestreet.com, talks with Brittany Umar about the changing market conditions favoring shale oil producers in the Bakken play of North Dakota. The prices for oil produced in the Bakken have been laboring under a very heavy discount for the last several years, a discount that is currently beginning to disappear. That means that Bakken producers are beginning to realize much better prices in the last few months than they did at the depths of the price crash. With oil rallying towards $60 from $45 and differentials dropping almost $10, realized prices have improved $25 a barrel which has so far gone under-appreciated in the shares of these Bakken players. Out of the biggest, including Continental Resources and Whiting Petroleum, Dicker particularly likes Hess.
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