CLR buys WHEATLAND for $340M CLR - Continental buys an oil weighted company with similar production and 2P RESERVES like SCS for $340M (debt included). I talk for Wheatland OIl. Study this case very carefully.
Wheatland has 2,500 boepd oil weighted production and 17 MMboe 2P Reserves.
Wheatland has also MUCH LESS land than SCS. it has also Montana Bakken which are the LEAST PRODUCTIVE wells of the Bakken formation. They are DUDS actually if you read the results of ROSE and NFX and few other operators there.
SCS had 11MMBOE reserves in Dec 2011 but they will rise at least 40% once the new report is released in early 2012 after the huge drilling success of H1 2012 when 4 SCS wells were in the TOP-16 most oily wells of Canada and hit IP rates of 3,000-5,000 boepd.
SCS has an EV=$130 M currently !!!
https://www.ogfj.com/articles/2012/03/continental-looks-to-enrich-bakken-position-with-wheatland-acquisition.html