Continental Resources

9:20 am
Fri December 19, 2014

Oklahoma Oilman Harold Hamm Bets Prices Will Rise, And Loses Big

The oil price bust has left lots of people licking their financial wounds. Perhaps the biggest one-way bet in the wrong direction came from the oilpatch itself, by a company and its founder at the center of the U.S. oil revolution. Harold Hamm is the $8 billion oilman; the man behind the biggest drilling company in North Dakota, Continental Resources.
In an earnings call five weeks ago, he said, "We're at the bottom rung here on prices and we'll see them recover pretty drastically pretty quick. Given our belief the recent pullback in oil prices will be short-lived, we made changes to our existing hedge book by monetizing practically all of our oil contracts."
Business Intelligence Report
5:12 am
Fri December 12, 2014

Three Energy Stories Making Headlines In Oklahoma This Week

With billboards pointing toward Oklahoma City and messages about booming careers and less traffic in Oklahoma City, Continental Resources is promoting itself in Houston. The energy company is making a connection, as revealed on online applications.
Continental Resources The Journal Record

Oklahoma City made national headlines last week when a few stations on the south side started selling gasoline for less than $2 per gallon.

Friday morning West Texas Intermediate crude oil was trading below $60 per barrel, with Brent crude right around $63.

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Business and Economy
3:42 pm
Fri November 28, 2014

Crude Oil Prices Down Sharply Affecting Oklahoma Companies

A crude oil tank farm in Cushing, Okla.
Credit Joe Wertz / StateImpact Oklahoma

A sharp drop in crude prices tugged down shares in oil and gas companies on Friday, leading the Standard & Poor's 500 index to a slight loss in a short trading session.

The index, a benchmark for many investments, still closed out November with its third-best month this year.

"Crude is the big story today," said JJ Kinahan, TD Ameritrade's chief strategist. "There are very clear winners and losers. The Chevrons and Exxons of the world are getting hammered; then on the other side you have the shipping companies — UPS and FedEx — along with the airlines. For them, it's a beautiful story."

Newsok.com reports:

The damage, reflected in stock prices, was widespread this week among our local energy firms. SandRidge Energy shares fell 30 percent; Continental Resources was off 28 percent; Chesapeake dropped 16 percent; and Devon slid 12 percent.

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StateImpact Oklahoma
10:25 am
Fri May 16, 2014

Chickasha Sells Water To Oil Driller To Help Pay For Water Infrastructure Needs

Chickasha, Oklahoma
J. Stephen Conn Flickr Creative Commons

When a city needs $150 million over the next half-century for upgrades and repairs to its aging water infrastructure system, its leaders might have to get creative to find the money.

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StateImpact Oklahoma
2:53 pm
Mon May 5, 2014

Three Of Oklahoma’s Largest Oil Companies’ Plan For How The State Should Tax Them

Credit neillharmer / Flickr Creative Commons

Executives at Chesapeake Energy, Continental Resources and Devon Energy have proposed a plan for Oklahoma’s taxes on oil and natural gas production.

The proposal comes as legislators are debating state oil and gas taxes, which include an incentive for horizontal drilling that expires next year. The Oklahoman‘sAdam Wilmoth reports:

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StateImpact Oklahoma
11:46 am
Mon January 6, 2014

How Train Accidents Involving Northern Plains Crude Affect Oklahoma’s Oil Industry

A series of explosive train accidents has renewed concern about the safety of transporting crude oil by rail, especially the type of crude extracted from the Northern Plains.

The most recent accident was the the fiery crash that occurred on Dec. 30 in North Dakota. No one was injured, but dramatic fireballs erupted when the train with more than 100 cars collided with another train carrying grain in the small town of Casselton.

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StateImpact Oklahoma
2:34 pm
Tue July 30, 2013

Oil Billionaire Harold Hamm To Lead AG Pruitt’s Re-Election Campaign

Harold Hamm is a major Republican donor, and he served as candidate Mitt Romney’s chief energy adviser during the 2012 presidential race.
Credit Continental Resources

Oil billionaire Harold Hamm, the CEO and Chairman of Oklahoma energy giant Continental Resources has been tapped to lead state Attorney General Scott Pruitt’s re-election campaign.

The Associated Press reports:

Pruitt described Hamm as a “dedicated businessman, visionary, and icon here in Oklahoma.”

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Energy
10:00 am
Mon April 15, 2013

What’s the Difference Between Oklahoma and Arkansas? Oil

Harold Hamm
Credit Continental Resources

Many energy company executives are afraid to talk about oil, according to Continental Resoures CEO Harold Hamm.

“Energy has treated Oklahoma so well,” said Hamm speaking at the Governor’s Energy Conference last fall. “A third of production comes from Oklahoma. That’s tremendous.”

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