Continental Resources Archives - Page 2 of 4

Continental Resources chairman snaps up $16 mln in company stock

December 22, 2021

Reuters Harold Hamm, founder and chairman of shale oil producer Continental Resources, this month bought more than $16 million in company share, his second purchase in less than two months, according to regulatory filings. Hamm has purchased some $21.25 million worth of Continental stock since November, or 475,520 shares, according to filings with the U.S. Securities and Exchange Commission. Hamm

Continental Resources announces 3Q21 results; delivering record free cash flow & strategic expansion into permian basin

November 4, 2021

Oil and Gas 360 OKLAHOMA CITY, Nov. 3, 2021 /PRNewswire/ — • $369.3 MM Net Income; $1.01 per Diluted Share ($437.2 MM Adjusted Net Income; $1.20 per Adjusted Share (Non-GAAP)) in 3Q21 • $1.0 B Cash Flow from Operations & Company Record $669 MM Free Cash Flow (Non-GAAP) in 3Q21 • $3.9 B Projected Full-Year 2021 Cash Flow from Operations & $2.6 B Projected Full-Year 2021 Free Cash Flow (FCF) (Non-GAAP) at Current Strip Prices1 (~14% FCF

Continental Resources pushes for regulatory action at North Dakota hearing

May 20, 2020

Reuters Continental Resources, one of the largest U.S. shale oil producers, on Wednesday urged North Dakota energy regulators to intervene to help stabilize the state’s oil market through steps such as limiting output or restricting flaring of unwanted natural gas. Continental, the state’s largest producer, argued at a hearing that operators are hurting even though state production is down more

More shale drillers slash production after oil rout slams earnings

May 11, 2020

Reuters U.S. shale producers Continental Resources Inc and Callon Petroleum Co on Monday joined their peers in cutting production to cope with a rout in oil prices as the coronavirus crisis sapped demand for fuel. The historic drop in oil prices last month sent shockwaves through the energy sector, forcing producers to drastically cut spending and scale back activity globally.

US oil shut-ins in numbers: Expect at least 300,000 barrels per day shut during May and June

April 29, 2020

Rystad Energy US oil production of at least 300,000 oil barrels per day (bpd) will be shut during May and June, according to a Rystad Energy analysis of early communication from US oil producers. It is unclear how much of this is due to the Covid-19 pandemic and the related drop in demand, but one thing is certain: more production

Six US oil firms are expected to shut 300,000 barrels per day of production in May and June

April 29, 2020

CNBC U.S. energy companies are taking an axe to their rig numbers, deepening production cuts for the industry that in the last few years made America the world’s number one oil producer. Six major U.S. shale producers are expected to shut some 300,000 barrels per day (bpd) of crude for the months of May and June, according to an

Continental Resources sued by rival over failed $200 million oil deal

April 28, 2020

Reuters Casillas Petroleum Resource Partners sued Continental Resources Inc, alleging the Oklahoma shale producer last month backed out of a $200 million oil and gas deal as prices crashed. U.S. crude futures prices have tumbled, with coronavirus-related lockdowns and travel restrictions souring demand as OPEC and other producers waged a price war, sending oil to $13 a barrel this month

Continental Resources suspends dividend amid coronavirus woes

April 7, 2020

Reuters Continental Resources Inc said on Tuesday it would suspend its quarterly dividend and cut its production for April and May 2020 by about 30%, as it grapples with a plunge in oil prices and demand amid the novel coronavirus pandemic. This follows the oil and gas producer’s decision to slash its budget by about 55% to $1.2 billion last

Kudos to Harold Hamm – You sounded like Boone and Aubrey

December 20, 2019

Oil and Gas 360 Harold Hamm’s recent defense of America’s oil and natural gas industry sounded a lot like the late Boone Pickens and Aubrey McClendon, both of whom where champions of the industry, it’s workers and the independence the shale revolution provided America. In a letter sent to Elizabeth Warren dated December 18th, Hamm wrote, “Our domestic energy resurgence

Harold Hamm invites Elizabeth Warren on tour of shale heartland

December 20, 2019

Houston Chronicle Billionaire wildcatter Harold Hamm invited Elizabeth Warren to the Oklahoma oil patch as the U.S. Democratic presidential candidate proposes a ban on fracking if elected. In a letter dated Dec. 18, Hamm said he wanted Warren to tour “the economic engine that is our industry” while she visits her home state of Oklahoma for a town hall meeting

Continental Resources announces Harold Hamm is stepping up to Executive Chairman

December 11, 2019

OKLAHOMA CITY, Dec. 11, 2019 /PRNewswire/ — Continental Resources, Inc. (NYSE-CLR) announced today that effective January 1, 2020, Founder and Chief Executive Officer, Harold Hamm will step up to the role of Executive Chairman. William Berry has been appointed Chief Executive Officer and President Jack Stark will assume the additional role of Chief Operating Officer. “Bill gives us an extraordinary

Investors brace for poor U.S. shale earnings amid weak oil and gas prices

October 28, 2019

Source: Reuters (Reuters) – Investors are bracing for weaker results from U.S. shale players in coming days as lower oil and natural gas prices and cost-cutting measures have weighed on third-quarter operations. Major shale producers ConocoPhillips (COP.N) and Concho Resources (CXO.N) this week kick off quarterly earnings reports for a group whipsawed this year by volatile pricing and investor demands

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