OSLO Nov 8 Norway's Statoil ASA has
approached shale oil producer Whiting Petroleum Corp
with a possible bid worth up to $7.6 billion, benzinga.com said
citing unnamed sources.
Whiting has hired Bank of America to advise it on the
possible bid at $65 per share, well above its $42.04 close on
Wednesday, the website added.
Statoil declined to comment on the report.
Whiting and Statoil are among the top producers in the
Bakken shale formation in North Dakota and Statoil has said it
is looking to pick up further shale acreage in the United States
as it aims to boost its production in the country.
Statoil aims to lift its North American production to
500,000 barrels of oil equivalent per day by 2020 from less than
100,000 in 2011, with around 300,000 of that coming from onshore