For newbies: With rare exceptions, I do not edit posts once they have been posted with one exception: I update data about wells once they come off the confidential list.
If I want to edit a post, I clearly label the "updates."
At SeekingAlpha.com today there is an article suggesting that CLR is fairly valued. I don't have formal training in reading financial statements or estimating the "correct" valuation for a company, so I cannot comment on the author's conclusion, methods, or data used to make the assessment.
However, unless I missed it, the article appears to have been written before the results of CLR's much anticipated Charlotte 4-22 were known, and before CLR's press release announcing new estimates for original oil (OOIP) in place in the Bakken Pool. And again, unless I missed it, the article does not reference the new EURs coming out of the "better" Bakken, i.e., 1.5 million bbls vs the generally accepted/historical 350, 000- to 750,000-bbl EURs. KOG has recently suggested EURs of one million bbls but 1.5 million bbls is entirely new.
On this website, the second iteration of the Million Dollar Way, I have written 8,968 posts, and have posted 8,894 of them. In addition, the vast majority of posts relating to the Bakken (and several other pet subjects) are frequently updated. Suffice it to say, there are a lot of posts. And yet, there are only a handful that are particularly noteworthy.
Newbies should take a look at the August 29, 2012, post: reviewing the CLR corporate presentation in which I inferred a trillion-barrel original-oil-in-place (OOIP) Bakken Pool reserve.
That was written before we knew the results of CLR's TF3 Charlotte well. In light of these results, one might enjoy reading that post again. It's a long post, directed for folks who are somewhat unfamiliar with the Bakken. Regular readers already know all this stuff.
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