I have been pondering this over the weekend in the context of...

I have been pondering this over the weekend in the context of the buy back. I understand your frustration. As a shareholder I too would love management to crank the dial and soak up 20% of the register at these levels.

However, and that is a big however there is also the potential of a capital intensive monetization event on the horizon such as a JV. The share of which will be determined by the amount of capital that can be brought to the table by each participant. Multi well developments like the one CLR did are not cheap and everyone will be jockeying for the biggest share of the revenue streams.

BRK only have a finite pool of capital to allocate - either development of the assets or a buyback. BRK are also the small fish in the pond. They are going to have to play it smart to get a bigger share.

As a shareholder I would be mighty annoyed to be told that the percentage of a JV deal was reduced because management shot their load on a buy back.

Tough as it sounds we just have to be patient and keep the powder dry. I am just being realistic.

As any business owner knows capital allocation can be a tough balancing act.