My comments back to Don:
- it is interesting how Harold Hamm compares horizontal drilling and fracking. He is probably the world's expert on the subject, and he sees horizontal drilling as the key, fracking as a "distraction" (he used a different word)
- he is also correct about the price of oil with regard to OPEC
- he doesn't want to get into a discussion about federal fracking rules; he's a great negotiator. I learned that in Air War College. Once you enter into a discussion, everything is on the table; everything is negotiable; everything has a price. If one does not want to see federal fracking rules, one doesn't start talking about that possibility. The discussion would open doors
- it was interesting to see where IBD placed CLR in relation to EOG, others
it's striking to see that CLR accounts for 65% of all Bakken oil production. Error -- see first comment. A reader noted my error. Sixty-five percent of CLR's total production comes from the Bakken (other production, for example, comes from Oklahoma SCOOP).
Continental, whose stock lifted 53% in 2013, is the sixth largest name in IBD's Oil & Gas-Exploration & Production industry group, after EOG Resources, Anadarko Petroleum, Pioneer Natural Resources, Devon Energy, and Noble Energy.
Error is that CLR is producing 65% of its own oil production Bakken/Total USA. CLR does not produce 65% of Bakken barrels/ day.
ReplyDeleteThank you. I will correct that. I had trouble believing it when I posted it; I misread it. Thank you for taking time to correct me.
Delete