My knee-jerk reaction to CLR's announcement that it had bought into the Permian for $3.250 billion was negative.
But after thinking about the announcement (not the deal) for about one hour, I quickly came around. Harold Hamm's decision to enter the Permian the way he did was brilliant.
Let me ask "you" a question: if the numbers are correct, that CLR can pay off this deal in less than 2.5 years with free cash flow, would you be happy with this deal?
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Harold Hamm To The Permian: I Just Want To Dance With You
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