Am I Missing Something?

I think I do a pretty good job scouring news announcements regarding the Bakken. I know I miss a lot and I do make mistakes.

But in the process of re-looking at the September NDIC hearing docket, I noted the following:

• 13334: CLR, 7 wells, 1280-acre, Dunn, 2 units; 14 wells total
• 13335: CLR, 7 wells, 1280-acre, Dunn; 2 units; 14 wells total
• 13336: CLR, 7 wells, 1280-acre, Dunn; 1 unit; 7 wells total
• 13337: CLR, 7 wells, 1280-acre, Dunn; 4 units; 28 wells total
• 13338: CLR, 7 wells, 1280-acre, Dunn; 8 units; 56 wells total
• 13339: CLR, 7 wells, 1280-acre, Dunn; 9 units; 63 wells total
• 13340: CLR, 7 wells, 1280-acre, Dunn; 5 units; 35 wells total 
• 13341: CLR, 7 increase density wells, 1280-acre unit, Divide; 7 wells total
• 13342: CLR, 7 increase density wells, 1280-acre unit, Divide; 7 wells total
• 13343: CLR, 7 increase density wells, 1280-acre unit, Divide, Burke, Williams; 7 wells total 

In my original post, I had simply noted the case and the "7 wells, 1280-acre spacing" but did not look at the number of units involved. I went back to the dockets and updated that information, and the information above is what I noted.

That's 238 wells that CLR requested, and that's just a small part of the overall docket for September. Did I mis-read something; is that really accurate? Is that what the docket is saying? It just seems that with all the reporting that comes out of the Bakken, someone would have noted that, certainly by an analyst. But nothing.

So, let me know if I'm mis-reading this. This is absolutely incredible. It reminds me of the EOG request some months ago requesting in excess of 500 new wells in just a few cases.

[With a EUR of 700,000 barrels, at $50/bbl this works out to $8.3 billion over the lifetime of these 238 wells. CLR's market cap is $7.63 billion today.]

[I thought seven (7) wells on one spacing unit was a lot, now I see up to nine (9) wells on one spacing unit in the October dockets. More to follow.]