Continental Resources, Inc. (CLR), Kodiak Oil & Gas Corp (USA) (KOG): Despite Mother Nature, the Bakken Oil Boom Continues

Looking further afield, the rough weather this spring could still signal problems for others in the industry, particularly oil-field service companies. One company to watch here is Nuverra Environmental Solutions Inc (NYSE:NES), which had its first quarter report affected by the weather. In fact, “unusually harsh” conditions at its Bakken operations cost the company 13 days of work, or about 15% of the quarter, according to CEO Mark Johnsrud. Overall, weather caused the company to miss revenue estimates by 4.4%, which has weighed on it stock ever since that report. Another weather-related miss could really sink this stock.

The key takeaway, though, is that oil production in the Bakken continues to rise despite issues with the weather. This should drive top-line results at both Kodiak Oil & Gas Corp (USA) (NYSE:KOG) and Continental Resources, Inc. (NYSE:CLR), especially when considering oil prices are heading higher, while the region’s infrastructure issues have been abating. That means both companies could be setting up to beat Wall Street expectations this quarter.

The article Despite Mother Nature, the Bakken Oil Boom Continues originally appeared on Fool.com.

Fool contributor Matt DiLallo owns shares of Nuverra Environmental Solutions . The Motley Fool owns shares of Nuverra Environmental Solutions and has the following options: long January 2014 $4 calls on Nuverra Environmental Solutions and short January 2014 $3 puts on Nuverra Environmental Solutions .

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