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Sunday, August 7, 2011

Continental Resources (CLR) Closes In On One Million Net Acres in the North Dakota Bakken

CLR has grown its Bakken lease position to 901,370 net acres.  We're getting close to that "magic" number of one million net acres. 
 
Previously, 1Q11 --

Source: press release.

Comment: some folks have commented that some operators are overextended and won't be able to get to all their leases before they expire. That may or may not be. I don't know. But I think these folks are smart enough to figure out how to manage their property. Regardless, in this operator's case, they are not selling their acreage; they are adding to it. Seed corn. 

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