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Tag Archives: harold hamm

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 ...

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Continental Resources profit beats as cost cuts offset cheap oil

continental resources

Continental Resources Inc, the second-largest oil producer in North Dakota’s Bakken shale formation, posted a better-than-expected quarterly profit on Wednesday as the company slashed costs to offset plunging crude prices. In a bet on the ability to keep costs low, Chief Executive Harold Hamm boosted Continental’s 2015 production guidance. “Our teams are performing very efficiently,” Hamm said in a statement, ...

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ND oil and gas leaders: Lift the outdated export ban

oil tanker

Lifting the decades old oil export ban remains a contentious issue. While those in opposition of the idea argue that it would cause wholesale and commercial fuel prices to increase, but those in favor stress that ending the ban would create numerous economic opportunities. Earlier this week industry leaders and regulators testified during a U.S. House Committee on Agriculture hearing ...

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Continental gets one last boost from sale of oil hedges

WILLISTON, N.D. – Continental Resources Inc posted a fourth-quarter profit well above Wall Street’s expectations on Tuesday, as a one-time gain from the sale of crude hedges helped offset tumbling oil prices . Continental reported net income of $114 million, or 31 cents per share, compared with $132.8 million, or 36 cents per share, in the year-ago period. Excluding one-time ...

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Hamm’s EX wants more

Harold Hamm’s divorce battle isn’t over yet and may cost him even more. Sue Ann Arnall, Hamm’s ex-wife, recently received a settlement check just shy of $1 billion, but that isn’t enough.  After cashing the check for $975 million, Arnall is appealing her divorce decree and asking for more, considering she only received less than 10 percent of Hamm’s total ...

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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 ...

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