The Jones Act is the nickname for a 94-year-old law entitled the Merchant Marine Act of 1920 that allows only U.S.-made, U.S.-manned, and U.S.-flagged ships to transfer goods or passengers between U.S. ports. Although it was meant to protect domestic U.S. seaborne commerce from foreign competition, in today’s global economy, it has the effect of making shipping oil between U.S. ports,
Whiting Petroleum (ticker: WLL) has announced the acquisition of Kodiak Oil & Gas (ticker: KOG), making the company the largest producer in the prolific Bakken/Three Forks area in the Williston Basin. COMBINED COMPANY 107,000 BOEPD (Q1 2014) Production 370 MMBOE Reserves 855,000 Net Bakken Acres (strongest acreage position in the Bakken) 3,460 Future Drilling Locations 21 Active Williston Rigs 1,200+
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