Totally agree with boogienights - Crum needs to focus on the 250k plus acres we got
I would be quite surprised if they pushed the debt envelope any further. We got good acreage that we can add to if needed. For and E&P of this size a 250 to 300k acre position is enormous. For us as investors we bought into Crum/MPO hoping he would do exactly what he has done - get a good land package. Now drive cost containment, drill rigs and efficiency as hard as we can. Crum has two excellent properties next door to one another, yet with various characteristics supported by upside in LA gulf. Our thoughts are that he did this for a reason. That his personnel matched nicely with the properties.
Our investment club would be shocked if a different thesis emerged. With the thought that adding 10k acres in Lime and Anadarko here and there as needed to show our people truly know their stuff. We contend Crum is wily like a fox...and the best is yet to come.