The question:
If you were fully invested in CLR (financially or emotionally or however you want to define "fully invested") would you have been happy with this breaking development, that CLR invested in the Permian, in this way, to this degree.
The blog has a reader and correspondent whose credentials are unsurpassed by anyone when it comes to shale oil.
The individual has provided one of the longest original epistles I have ever received on any subject. The correspondent weighs in on CLR's entry into the Permian.
It will take me awhile to digest his/her comments. But once I have (digested it), I will post my answer to the above question.
Which gives me an idea, time for a new poll.
Closing out the current poll in which I asked how many rigs you think there will be in North Dakota a year from now (August 22, 2022)?
- 40 - 49: 38%
- 30 - 39: 34%
- <30: 12%
- 50 - 60: 9%
- over 60 active rigs: 7%
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Taking A Break
Can you link to (or repost) the commenter's comments? Very interesting in CLR. I looked around, but not finding where he made those comments.
ReplyDeleteI will do that over the weekend. I can't post it as sent due to my commitment to anonymity but I will post the comments in their entirety once appropriate redactions have been made. If the correspondent wrote 1,000 words (I did not do a word count, I will only be redacting about ten words so we're not talking much redaction). I also need to put the comments in context since there is a lot of background to the comments that would not be known to others.
DeleteI would do it now, but my driving responsibilities for Friday begin momentarily and I don't have time to post the note. In addition, I need to formulate my own thoughts.
But I will provide these three comments:
1) I am firmly among those who feel that HH did the right thing entering the Permian the way he did.
2) One reader wrote to tell me he/she was the first to vote, and also agrees that HH did the right thing. That individual knows more about the ND oil industry than I do, and has a much, much better memory than I do.
He/she is also a much better investor than I am.
3) The individual who sent me the long comment when asked the same question: was unable to commit to a "yes" or "no." His/her bottom line: "the jury is still out."