Home / Tag Archives: continental resources

Tag Archives: continental resources

U.S. shale producers see big budget cuts for 2016

HOUSTON/NEW YORK – U.S. shale oil producers, having slashed fat from 2015 budgets after a 50-percent drop in crude prices, risk cutting to the bone next year as they pare spending further and get ready for a prolonged downturn. Top shale companies including Devon Energy Corp, Continental Resources Inc and Marathon Oil Corp this week released preliminary 2016 plans for ...

Read More »

Hamm is certain the export ban will be lifted by October just as OPEC reduces output

The global oil market is in for some big changes this fall if oil tycoon Harold Hamm’s crystal ball proves accurate. During a quarterly update conference call on Aug. 6, the Continental Resources Chairman and Chief Executive Officer predicted an “energy paradigm shift will have profound long-term consequences worldwide starting with the U.S. crude export ban being lifted so America ...

Read More »

Continental Bakken reserves continue to grow

continental resources

Continental Resources (NYSE: CLR), one of the top producers in the Bakken formation, has announced that the company’s proved reserves and production rates are continuing to grow with each passing year. The company reports that as of December 31, 2014, its proved reserves increased from the prior year by 267 million barrels of oil equivalent (MMBoe), or 25 percent. Its ...

Read More »

Hamm: “Oil prices could rebound faster than expected”

Despite the many recent non business-related headlines about him over the past month, folks within the oil and gas industry should still respect what Harold Hamm has to say. The Continental Resources CEO said Wednesday that he believes “the market doesn’t understand just how quickly oil companies are scaling back their activities, and as a result, oil prices could rebound ...

Read More »

Kinder Morgan entering Bakken with $3 billion deal

HOUSTON – Leading U.S. pipeline Kinder Morgan Inc <KMI.N> said on Wednesday it will enter North Dakota’s Bakken shale with a $3 billion acquisition of Hiland Partners, a pipeline and logistics company founded by Continental Resources <CLR.N> Chief Executive Officer Harold Hamm. The deal includes acreage in the Bakken’s top producing counties from which Kinder expects substantial oil output despite ...

Read More »

Kinder Morgan to buy Hiland Partners for $3 billion

HOUSTON – Leading pipeline company Kinder Morgan Inc <KMI.N> will buy Hiland Partners, a pipeline and logistics company founded by Continental Resources Inc <CLR.N> Chief Executive Officer Harold Hamm, for $3 billion, the company said on Wednesday. Hiland Partners builds and operates oil gathering and transportation pipelines and natural gas gathering and processing systems primarily in the Bakken shale oilfields ...

Read More »

Low oil prices won’t slow production, jobs in SCOOP

Cost reductions, lower gas prices and falling oil stocks will not have a large impact on SCOOP production, according to one Continental Resources vice president. Warren Henry, vice president of research and policy for Continental said although reductions in capital expenditures have been substantial, the company’s investment in the SCOOP is too much for it consider slowing down due to ...

Read More »