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Continental Resources, Inc. Message Board

  • lotsoflove792 lotsoflove792 Oct 4, 2012 9:40 PM Flag

    CLR vs EOX

    EOX Emerald Oil from their website
    "We are a Denver-based independent exploration and production company focused primarily on the development of our approximately 43,600 net acres in the Williston Basin in North Dakota and Montana. We have identified approximately 238 net potential drilling locations on this acreage prospective for oil in the Bakken and Three Forks formations. The majority of our capital expenditures in 2012 and 2013 are expected to be directed toward drilling operated and non-operated Bakken and Three Forks wells. We plan to leverage our management team’s collective extensive technical, land, financial and industry operating experience to transition from our historical non-operated strategy, to a balanced operated and non-operated approach that we believe provides a superior risk-adjusted return profile and enhances the strategic value of our company.

    In addition to our Williston Basin position, we have also assembled significant positions in two emerging Rocky Mountain shale oil plays. We have approximately 45,000 net acres in the Sandwash Basin in northwest Colorado and southwest Wyoming prospective for oil in the Niobrara shale formation. We also have approximately 33,500 net acres in central Montana prospective for oil in the Heath shale formation. We do not plan to allocate substantial capital to either of these areas in 2012 or 2013. However, pending successful well test results from our 2012 Sandwash Basin appraisal program, we may increase Sandwash Basin development activity in 2013. With our multi-year lease terms in both areas, we believe we are well positioned to observe the significant offset operator activity that we believe may ultimately de-risk and prove the prospectivity of both shale oil plays. In addition to these emerging oil plays, we also have approximately 74,700 net acres in Montana prospective for the Tiger Ridge natural gas play and another approximately 2,400 net acres in the Denver-Julesburg Basin (“DJ Basin”) in Colorado prospective for Niobrara oil."

    Sentiment: Strong Buy

 
CLR
69.39-0.66(-0.94%)11:55 AMEDT

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