Continental Resources
 | |
| Public company | |
| Traded as | NYSE: CLR |
| 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 |
 US$2.680 billion (2015)[1] |
|
-US$224 million (2015)[1] | |
|
-US$353 million (2015)[1] | |
| Total assets |
US$14.920 billion (2015)[1] |
| Total equity |
US$4.669 billion (2015)[1] |
Number of employees | 1,188 (2015) [2] |
| 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
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
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
- 1 2 3 4 5 6 7 "Continental Resources Reports Fourth Quarter And Full-Year 2015 Results". PRNewswire. February 24, 2016.
- ↑ "Continental Resources on the Forbes Global 2000 List". Retrieved 30 September 2016.
- ↑ Continental Resources Historical Timeline: 1967
- ↑ Continental Resources Historical Timeline: 1990
- ↑ "Red River Units - Continental Resources". Retrieved 30 September 2016.
- ↑ Continental Resources Historical Timeline: 2003
- ↑ "A monument of horizontal proportions". Williston Herald. October 28, 2011.
- ↑ "Continental Resources I.P.O. Prices Below Expected Range". New York Times. May 15, 2007.
- ↑ "Bakken and Three Forks - Continental Resources". Retrieved 30 September 2016.
- ↑ "ECO-Pad® - Continental Resources". Retrieved 30 September 2016.
- ↑ "Continental Resources Officially Moves Headquarters to Oklahoma City". PRNewswire. March 27, 2012.
- ↑ Inhofe, James (18 April 2012). "Harold Hamm - The World's 100 Most Influential People: 2012 - TIME". Retrieved 30 September 2016 – via content.time.com.