Continental Resources

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Continental Resources is a U.S. petroleum producer and the largest leaseholder in the Bakken formation of North Dakota and Montana. The company also has a large presence in the Anadarko Woodford Play of Oklahoma and the Red River Units Play of North Dakota, South Dakota, and Montana.[1]

The company is based in Oklahoma City, Oklahoma, and was founded in 1967. The company's profits have grown with fracking, reporting total revenues of $1.6 billion for 2011. Continental spent $1.27 billion on acquisitions to expand operations in the Bakken formation region since late 2011 to early 2016.[2] The company said it is on track to triple production and proved reserves from 2009 to 2014.[3]

It was reported in February 2016 that Continental Resources, a top producer in the Bakken, will stop fracking and bringing new wells into production. The company plans to drill wells in the Bakken through the rest of 2016, but will leave them uncompleted to cut costs.[4] Bloomberg reported that Continental Resources has no more crews in the Bakken.[5]

The company had net losses of $354 million in 2015.[6]

Personnel

Continental Resources CEO Harold Hamm was acknowledged at a privately held Koch seminar in June 2011 in Vail, Colorado for donating at least $1 million to Koch-related causes.[7]

The Wall Street Journal reported that Hamm generated “almost all” of his $12 billion wealth in Continental from 2010-2012; he ranks at No. 36 on Forbes 2012 list of richest Americans.

In March 2012, the Romney campaign announced that Hamm would lead the candidate’s energy policy, joining a team that already includes coal lobbyist Jim Talent and tar-sands lobbyist David Wilkins.[8]

Contact Information

Continental Resources, Inc.
20 N. Broadway
Oklahoma City, Oklahoma 73102
Telephone: 405-234-9000
Website: http://www.contres.com/about/contact

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References

  1. "Continental Resources: About Us," Continental Resources Website, accessed June 2012.
  2. Joe Carroll, "Shale Drillers Halt Bakken Fracking as Saudis Send Gloomy Note," Bloomberg, February 24, 2016.
  3. "Continental Resources: About Us," Continental Resources Website, accessed June 2012.
  4. Jennifer Gollan, "Bakken energy producers stop fracking," Reveal, February 26, 2016.
  5. Joe Carroll, "Shale Drillers Halt Bakken Fracking as Saudis Send Gloomy Note," Bloomberg, February 24, 2016.
  6. Jennifer Gollan, "Bakken energy producers stop fracking," Reveal, February 26, 2016.
  7. Gavin Aronsen, Exclusive: The Koch Brothers' Million-Dollar Donor Club, Mother Jones, September 6, 2011
  8. Rebecca Leber, "Harold Hamm joins Team Romney," Think Progress, March 2, 2012.