Continental Resources

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Continental Resources
Public company
Traded as NYSECLR
Industry oil and gas industry
Predecessor Shelly Dean Oil Co.
Founder Harold Hamm, CEO
Headquarters Oklahoma City, Oklahoma
Key people
Harold Hamm, CEO
Products Oil & Natural Gas
Production output
225 thousand barrels of oil equivalent (1,380,000 GJ) per day (Q4 2015)[1]
Revenue Decrease US$2.680 billion (2015)[1]
Decrease -US$224 million (2015)[1]
Decrease -US$353 million (2015)[1]
Total assets Decrease US$14.920 billion (2015)[1]
Total equity Decrease US$4.669 billion (2015)[1]
Number of employees
1,188 (2015) [2]
Slogan America's Oil Champion
Website Continental Resources

Continental Resources, Inc. is an American oil and natural gas exploration and production company based in Oklahoma City. The company is currently headquartered in the building that was formerly known and occupied by Devon Energy

Current operations[edit]

The company has large holdings in the Bakken formation tight oil area of North Dakota and Montana, the Niobara formation, the Anadarko Woodford Play of Oklahoma, and the Red River Units Play of North Dakota, South Dakota, Montana, and Wyoming.

In the fourth quarter of 2015, total production was 225 thousand barrels of oil equivalent (1,380,000 GJ) per day, of which 65% was oil and 35% was natural gas. [1]

History[edit]

In 1967, Harold Hamm founded Shelly Dean Oil Co., Continental’s predecessor. [3]

In 1990, the company was renamed Continental Resources. [4]

In 1995, Continental discovered what was later described as the Cedar Hills Field in North Dakota – the 7th largest onshore field in the lower 48 United States ranked by liquid proved reserves – and is the first to develop it exclusively through precision horizontal drilling.[5]

In 2003, Continental drilled its first wells in the Bakken formation.[6]

In 2004, Continental completed the Robert Heuer 1-17R in Divide County, the 1st commercially successful well in the North Dakota Bakken to be both horizontally drilled and hydraulic fracture stimulated.[7]

In 2007, the company became a public company via an initial public offering in which Harold Hamm sold approximately $300 million worth of his shares. [8]

In 2008, Continental was the first to complete a horizontal well in the Three Forks zone.[9]

In 2010, Continental introduced the ECO-Pad® drilling technique, whereby the company is able to drill 4 wells from 1 pad. This reduces the cost of drilling for oil and increase production output. [10]

In 2012, the company moved its headquarters to Oklahoma City.[11]

In 2012, CEO Harold Hamm was named one of TIME Magazine's 100 Most Influential People in the World.[12]

References[edit]

External links[edit]