Investopedia: Crimson Exploration Looks Undervalued, But Mind The Well Economics

Energy is a cyclical market that seems to inspire despair in the worst of times and frenzied elation in the best - and that's true for both investors and companies alike. When an area gets hot, many companies scramble in and pay almost whatever it takes to establish acreage, but the economics don't always support this. I think this is worth remembering in the case of Crimson Exploration (Nasdaq:CXPO) - while the company's shift toward liquids is logical and the its Texas acreage may well be undervalued, the ultimate profitability of these operations gives some reason for pause.

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http://www.investopedia.com/stock-analysis/2013/Crimson-Exploration-Looks-Undervalued-But-Mind-The-Well-Economics-CXPO-COP-EOG-MRO0122.aspx