The Bakken Shale has transformed American oil production. Companies like ConocoPhillips (COP) are producing so much oil and natural gas with horizontal drilling and hydraulic fracturing operations that, according to EIA data analyzed by The Wall Street Journal, America will be the world’s largest hydrocarbon producer by the end of this year. ConocoPhillips has 11 drilling rigs and 240 operating wells in North Dakota, and 59 operating wells in nearby eastern Montana. You can see on my long-term chart that shares of ConcoPhillips are headed towards their all-time highs. Buy now.