FRACK THIS: The Epicenter of America’s Oil Bust Is Drawing Buyers.
Investors hoping for a bargain are buying up oil and gas wells from cash-strapped operators in the state’s Bakken Shale, a bet they will eventually be able to profit off one of the country’s hardest-hit oil plays.
Hundreds of wells have changed hands or are in the process of being sold, state figures show, to a grab bag of fortune seekers ranging from industry experts to first-time wildcatters. They are picking up properties as more established producers scale back or shed assets to pay creditors.
Don’t worry. While this mess gets sorted out, it’s not like the oil is going anywhere.