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.
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
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
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
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
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
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
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
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
By Tyler Losier, Energy Reporter, Oil & Gas 360 Continental Resources’ Harold Hamm sits down for a fireside chat Today, as part of EnerCom’s 24th annual The Oil and Gas Conference in Denver, Colorado, Harold Hamm, CEO and chairman of Continental Resources (stock ticker: CLR), sat down with Tom Petrie of Petrie Partners for a fireside chat. The two spoke
By Tyler Losier, Energy Reporter, Oil & Gas 360 Continental Resources sells STACK water handling facility to Lagoon Water Solutions for $85 million Continental Resources (stock ticker: CLR), an Oklahoma City-based independent E&P, is selling its eastern STACK water gathering and recycling system in Blaine county, Oklahoma to Lagoon Water Solutions for $85 million. In conjunction with the divestiture, Continental
By Tyler Losier, Energy Reporter, Oil & Gas 360 The Oil and Gas Conference’s Williston Basin presenters cumulatively produce 633,800 BOEPD From August 11-14, Oil & Gas 360’s parent company – EnerCom – will host its 24th annual The Oil and Gas Conference® at the Westin Downtown Hotel in Denver, Colorado. This event offers investment professionals the opportunity to hear
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