BP plc (ADR) (BP), Heckmann Corporation (HEK): How Much Oil Does the Williston Basin Really Hold?

That kind of growth is truly impressive, especially considering the trend of stagnant or declining production among the large integrated oil companies. Beleaguered British oil major BP plc (ADR) (NYSE:BP), for instance, reported a 5% year-over-year drop in total oil and gas production in the first quarter, while ExxonMobil saw a similar 3.5% year-over-year dip in its first-quarter production.

2 stocks to play the Bakken boom
With the USGS having revised its estimates sharply upward and with oil prices unlikely to collapse, Bakken activity should remain strong for the foreseeable future. That should mean more business for Halliburton Company (NYSE:HAL), a global leader in the oil-field services space, and water treatment company Heckmann Corporation (NYSE:HEK), both of which boast strong presences in the Bakken.

Through its acquisition of Power Fuels last year, Heckmann Corporation (NYSE:HEK) gained a crucial foothold in the Bakken. Power Fuels was the leading environmental services company in the region and by acquiring it, Heckmann Corporation (NYSE:HEK) not only gained the company’s extensive asset base, but also key customers including Statoil, Whiting Petroleum Corp (NYSE:WLL), and Hess Corp. (NYSE:HES). Indeed, better than expected performance from the Power Fuels business helped Heckmann Corporation (NYSE:HEK) top analysts’ earnings estimates in the fourth quarter.

Similarly, Halliburton Company (NYSE:HAL), the leading services provider in the Bakken, should continue to see strong demand for its services, having already helped some Bakken operators reduce their well costs last year by as much as $400,000 per well through the use of recycled water. By the end of next year, the Houston-based company’s goal is to help the entire oil and gas industry use 25% less fresh water in their fracking operations.

The article How Much Oil Does the Williston Basin Really Hold? originally appeared on Fool.com and is written by Arjun Sreekumar.

Motley Fool contributor Arjun Sreekumar has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

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