Original CAPEX: $1.75 billion
In May, 2012: revised upward to $2.3 billion
Now, August, 2012: revised, again, to $3 billion
Earlier in 2012, CLR had planned to drill 249 net wells; will now drill 330 net wells in 2012.
When the going gets tough, the tough get going.
Back of the envelope calculations:
- $1.75 billion/249 --> $7 million/well
- $3.00 billion/330 --> $9 million/well
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