Continental Resources, Inc. Company News
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Continental Slashes Budget by 55 Percent
Friday, March 20, 2020 Harold Hamm says the adjustment was precipitated by the collapse of oil prices due to market manipulation.
Continental to Keep 2020 Capex Spending Flat
Friday, February 28, 2020 The budget assumes $55 WTI and $2.50 Henry Hub prices.
Continental Mulls Sale of Stake in Water Unit
Tuesday, October 08, 2019 Continental Resources Inc. is exploring a sale of a non-controlling stake in its water-infrastructure business that could value the unit at $1 billion or more.
Energy Stocks Hurt By Oil Slump Want Value Investors
Thursday, June 06, 2019 The Russell 3000 reconstitution later this month will be key for energy companies vying for investor attention, given an already low weighting in the index.
Continental Resources Sees 15-20 Pct Output Growth in 2019
Wednesday, August 08, 2018 A large portion of the company's growth is focused on its SpringBoard development in Oklahoma's SCOOP formation.
Continental Resources Raises 2018 Production, Spending Outlook
Tuesday, August 07, 2018 Shale oil producer Continental Resources raised its 2018 production outlook, citing improved performance in North Dakota and operational efficiencies, as well as increased drilling activity in Oklahoma.
Continental Resources CEO Harold Hamm Pulls Out Of OPEC Meeting
Monday, June 18, 2018 Harold Hamm, founder and CEO of Continental Resources, has canceled a scheduled appearance at an OPEC event this week, a company spokeswoman says.
Continental Resources Profit Surges Past Wall Street's Forecast
Wednesday, May 02, 2018 Continental Resources posts a better-than-expected quarterly profit.
Continental Resources Boosts CEO Hamm's Pay 38 pct in 2017
Thursday, April 05, 2018 U.S. shale oil producer Continental Resources Inc said it boosted founder and Chief Executive Harold Hamm's compensation by 38 percent in 2017.
Kemp: US Shale Returns to Growth, Posing Problem for OPEC
Friday, January 05, 2018 US crude oil prices have risen above $60 per barrel which should accelerate shale drilling and production in the next few months, provided the price increase is sustained.
Shale King Hamm Wants to Give Oil Forecasters a Reality Check
Thursday, November 16, 2017 Hamm blames overly optimistic government production predictions for depressing US oil prices.
Shale Billionaire Hamm Slams 'Exaggerated' US Oil Projections
Friday, September 22, 2017 Harold Hamm says the government was way too optimistic with its prediction of more than 1 million new barrels a day in US production.
Continental Resources CEO: Absolutely No New Debt
Wednesday, August 09, 2017 Continental Resources will fund future wells from cash flow and not take on any new debt, Chief Executive Harold Hamm says.
Continental Becomes Latest US Shale Producer To Cut Budget
Tuesday, August 08, 2017 Continental Resources cut its 2017 capital budget, the latest US shale oil producer to cut back on drilling and fracking equipment amid tepid crude prices.
Kemp: US Shale Producers Are Drilling Themselves into a Hole
Friday, June 30, 2017 Drilling and production are rising. Prices are declining.
Oil, Gas CEOs Optimistic about Future of E&P in North America
Friday, March 10, 2017 Oil and gas CEOs Harold Hamm, Jeff Ventura and Al Walker are ready to ramp up US exploration and production activity and hope the industry is equipped.
Continental Resources Posts Wider Loss On Oil Price Slump
Wednesday, August 03, 2016 Continental Resources posts a quarterly loss that missed Wall Street's expectations because of the slump in crude prices.
Rising Oil Prices Encourage Shale Producers, Dissuade Investors
Monday, June 13, 2016 The oil market just hit a yellow light.
In North Dakota's Oil Patch, A Humbling Comedown
Wednesday, May 18, 2016 Dave Van Assche's postal services business he had built over three short years was thriving, catering to the tens of thousands of people who, like him, had streamed into North Dakota to strike it rich during an unprecedented oil boom.
As Oil Boom Goes Bust, Oklahoma Protects Drillers and Squeezes Schools
Tuesday, May 17, 2016 After intense lobbying, Oklahoma's oilmen scored a victory two years ago. State lawmakers voted to keep in place some of lowest taxes on oil and gas production in the United States - a break worth $470 million in fiscal year 2015 alone.
US Shale's Message For OPEC: Above $40, We Are Coming Back
Monday, February 29, 2016 For leading US shale oil producers, $40 is the new $70.
US Shale Oil Drillers Finally Buckling as OPEC Pumps On
Friday, February 26, 2016 US oil drillers are finally beginning to buckle. For more than a year, American oil producers found a way to keep pumping despite a worldwide slide in crude prices.
Continental Resources Quarterly Loss Misses Expectations
Wednesday, February 24, 2016 Continental Resources reports a bigger-than-expected 4Q loss as depressed crude prices erode margins.
U.S. Shale Firms, Struggling to Profit with $30 Oil, Slash Spending More
Wednesday, January 27, 2016 Three major U.S. shale oil companies have slashed their 2016 capital spending plans more than expected in a bid to survive $30 a barrel oil prices, with one of them saying prices would need to rise more than 20 percent just to turn a profit.
Continental Resources Slashes 2016 Budget By 66%
Tuesday, January 26, 2016 Continental Resources said it would slash its 2016 capital budget by 66% as it tries to preserve cash amid tumbling crude prices.
County Official: Continental Resources Rig Catches Fire in Oklahoma
Thursday, January 14, 2016 A rig operated by Continental Resources caught fire roughly six miles east of Chickasha, Oklahoma, an official with the county Emergency Management Department says.
Report: With Oil Hedges Rolling Off, US Shale Producers Face Stiff Test
Monday, December 14, 2015 Cash-strapped U.S. shale oil producers are facing another sharp sell-off in a 18-month-old crude slump with reduced hedging protection, risking a severe hit to earnings if prices fail to recover.
Continental Resources Boosts Crude Output Forecast
Wednesday, November 04, 2015 Continental Resources boosts production forecast despite posting a quarterly loss.
Continental Resources Cuts 2015 Budget On Low Oil Prices
Tuesday, September 08, 2015 Continental Resources says it would cut at least 11% from its 2015 capital budget due to the drop in crude prices.
Continental Resources Profit Beats As Cost Cuts Offset Cheap Oil
Wednesday, August 05, 2015 Continental Resources posts a better-than-expected quarterly profit as the company slashed costs to offset plunging crude prices.
Continental Resources Quarterly Loss Less Than Expected
Wednesday, May 06, 2015 Continental Resources posts a quarterly loss that was less than Wall Street had expected as cost cuts helped offset low oil prices.
Continental Gets One Last Boost From Sale Of Oil Hedges
Tuesday, February 24, 2015 Continental Resources posts a quarterly profit far above Wall Street's expectations, as a one-time gain from the sale of hedges lifts results and offsets tumbling commodity prices.
Kemp: Continental Becomes Lightning Rod For Fears About Shale
Tuesday, December 02, 2014 Continental's decision to lift most of its hedges for 2014, 2015 and 2016 has made the company a lightning rod for concerns about the impact of falling oil prices on the US shale sector.
Going Out On A Limb, North Dakota Oil Titan Scraps Hedges
Thursday, November 06, 2014 Harold Hamm stuns a bearish crude market by scrapping all of the North Dakota energy producer's oil hedges, betting that prices will recover soon after sinking 25% in recent months.
Continental Resources Profit Soars As It Exits Oil Hedging
Wednesday, November 05, 2014 Continental Resources posts a quarterly profit that meets Wall Street's expectations.
Continental Confirms Productivity of Springer Play
Friday, October 24, 2014 Continental confirms potential of its Springer play with results from individual delineation wells.
Continental Resources Names New President After Bott's Quick Exit
Wednesday, September 17, 2014 Continental Resources promotes Jack Stark to president, less than a week after Rick Bott quit the position.
Continental Resources President Quits, Leaves Leadership Gap
Thursday, September 11, 2014 W.F. "Rick" Bott was widely seen as the probably successor to Continental Chief Executive Harold Hamm.
Whiting To Buy Kodiak For $3.8B, Create No. 1 Bakken Producer
Monday, July 14, 2014 Whiting Petroleum says it will acquire Kodiak Oil & Gas for $3.8B in stock, to become the largest producer in North Dakota's Bakken shale oil formations, eclipsing Harold Hamm's Continental Resources Inc.
Oklahoma: Preparing to Become an Oil Producing Powerhouse
Monday, June 09, 2014 Shale oil is boosting Oklahoma's standing as an oil and gas state.
Continental CEO: Bakken Oil Is Safe
Wednesday, March 26, 2014 Harold Hamm says crude shipped by rail to markets across the United States is safe, despite growing fears that crude from the Bakken formation is dangerously volatile.
Shareholders Sue Oil Driller Continental CEO Over Pipeline Investment
Monday, February 10, 2014 A group of minority Continental shareholders is suing CEO Hamm, alleging that Continental's investment in a pipeline being built by another firm he controls will benefit him at their expense.
Continental Completes Bakken Acquisition
Thursday, December 20, 2012 Continental Resources has completed the acquisition of 119,218 net acres in the Bakken field, primarily in Williams and Divide counties, North Dakota, from Samson Resources Company for $649.3 million in cash.
Continental Resources to Triple Production by 2017
Monday, October 08, 2012 Continental Resources, Inc. announced a new five-year growth plan to triple production and proved reserves by year-end 2017.
Continental Resources Buys Bakken Acreage
Wednesday, March 28, 2012 Continental Resources, Inc. has entered into an agreement to purchase the assets of Wheatland Oil Inc. of Enid, Oklahoma.
Continental Resources Happy with SE Cana 2nd Stepout Well Results
Tuesday, December 20, 2011 Continental Resources announces it has successfully completed the Lyle 1-30H in Grady County, Oklahoma, with the well flowing 7.1 MMcfpd of natural gas and 325 Bopd.
Triple Play: Hamm Hits Home Run with Bakken
Friday, April 29, 2011 Forbes magazine's 33rd richest person in America, Harold Hamm has come a long way over the past 64 years.
Continental Resources Sees 16% in 2010 Production
Wednesday, February 23, 2011 "We achieved our 2010 production target and again reported strong growth in oil-concentrated proved reserves," said Harold Hamm, Chairman and Chief Executive Officer.
Continental Anticipates 30% Production Growth in 2011
Tuesday, October 12, 2010 Continental expects a capex budget of $1.36B for 2011 to produce 20.6MMBoe, an increase of 30 percent over expected production for 2010.
Continental Resources Tags $1.3B Capex for US Shale Plays
Friday, July 09, 2010 Continental has increased its capex budget to $1.3B to accelerate its drilling prog. and to increase its acreage positions in strategic U.S. shale plays.