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☆ These oil companies could be the next takeover targets in Permian Basin after Diamondback deal
▼ + stars: | 2024-02-14 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

Diamondback Energy took one of the last major, privately held operators in the Permian off the table this week when it agreed to buy Endeavor Energy Resources for $26 billion. The deal is poised to catapult Diamondback into the top tier in the Permian, the most prolific oil patch in the U.S. that stretches from western Texas into southeastern New Mexico. The top six companies in the Permian are set to own 62% of the basin's remaining oil reserves, according to Rystad Energy. The stubborn holdouts After the Diamondback-Endeavor and Occidental-CrownRock deals, the only other major privately held producers left in the Permian are Continental Resources and Mewbourne Oil. Conoco could potentially seek to acquire Permian Resources , Civitas , Coterra, Vital Energy or Ovintiv , Bernstein said.

Persons: Matthew Bernstein, Bernstein, Hess, Andy Lipow, Neal Dingmann, Mewbourne, Dingmann, Ovintiv, Enerplus, Bob Yawger, Yawger, weren't, Ryan Lance, Lance, Conoco, EOG Organizations: Diamondback Energy, Endeavor Energy Resources, Diamondback, Exxon Mobil, Chevron, Rystad Energy, Truist Securities, CRFA Research, Endeavor, CNBC, Exxon, Natural Resources, Occidental, Lipow Oil Associates, Resources, Mewbourne, Continental, Publicly, Civitas, Coterra, Vital Energy, Devon Energy, Marathon Oil, Bloomberg News, Marathon, Reuters, CFRA, ConocoPhillips, Mizuho Locations: U.S, Texas, New Mexico, Guyana, Devon, Bakken, North Dakota, Occidental, Mizuho Americas, Marathon

☆ Trump is wooing oil and gas tycoons to financially support his 2024 campaign, report says
▼ + stars: | 2023-11-11 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

Former President Trump is working to ramp up his support among energy executives, WaPo reported. Support from oil and gas executives would be crucial to his 2024 reelection campaign. Harold Hamm, the billionaire founder and chairman of Continental Resources, for instance, told Trump during a phone conversation earlier this year that he should end his presidential bid, per The Financial Times. "Trump was good on energy, and I think energy policy under Trump would be fine," Eberhart, the DeSantis supporter, told The Post. AdvertisementAdvertisementThe extent of Trump's pitches to energy executives is not a shock to environmental groups, as they battled with the administration over regulations throughout his entire time in the White House.

Persons: Trump, WaPo, —, Donald Trump, Joe Biden, Harold Hamm, Hamm, Ron DeSantis, Nikki Haley, Dan Eberhart, DeSantis, Kenny Troutt, Rick Bowmer, Barack Obama, Biden, bonafides, Tiernan Sittenfeld, Steven Cheung Organizations: Service, The Washington Post, Trump, Continental Resources, Gov, Post, White, Canary LLC, AP, Keystone XL, Wildlife, Green New, League of Conservation Voters, Big Locations: Trump, Florida, South Carolina, Trump's, Lago, Texas, Helper , Utah, Paris, Alaska, United States, ANWR

☆ Legendary oil mogul Harold Hamm eyes the next stage in the US shale oil boom: 'Generation 3' rock
▼ + stars: | 2023-11-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Shale industry legend Harold Hamm is looking to pull crude from "Generation 3" rock. This is a tougher form of rock that was largely neglected earlier in the shale revolution. AdvertisementAdvertisementShale industry legend Harold Hamm is looking ahead to the next potential breakthrough in US crude production. Hamm made a name for himself by applying horizontal drilling techniques to unlock vast amounts of oil in North Dakota's Bakken shale region. According to Bloomberg's calculations, oil drillers need crude prices of $86 or more to make their costliest wells profitable, up 50% since March 2022.

Persons: Harold Hamm, —, Hamm Organizations: Service, Bloomberg, Continental Resources, Exxon, Natural Resources Locations: North, Oklahoma

☆ Exclusive: ConocoPhillips weighs CrownRock bid to challenge rivals
▼ + stars: | 2023-10-26 | by ( David French | ) www.reuters.com time to read: +2 min

CrownRock's investment bankers have asked interested parties to submit initial offers next week, two of the sources added. Diamondback Energy (FANG.O), Devon Energy (DVN.N), Marathon Oil (MRO.N) and Continental Resources are also studying potential bids for CrownRock, the sources said. The company is led by Texas billionaire businessman Timothy Dunn and backed by private equity firm Lime Rock Partners. Bloomberg News reported last week that Devon was considering a bid for CrownRock, and that Devon has also held preliminary talks about a tie-up with Marathon. Reporting by David French in New York; Editing by Greg Roumeliotis and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Chris Helgren, CrownRock, Timothy Dunn, Conoco, Devon, David French, Greg Roumeliotis Organizations: ConocoPhillips, REUTERS, Houston, Exxon Mobil Corp, Chevron Corp, Diamondback Energy, Devon Energy, Continental Resources, CrownRock, Marathon Oil, Continental, Diamondback, Exxon, Natural Resources, Chevron, Hess Corp, Lime Rock Partners, EOG Resources, Devon, Bloomberg News, Marathon, Reuters, Thomson Locations: Vancouver , British Columbia, Canada, Texas, Conoco, Devon, Midland, Marathon, New York

[1/2] The BP logo is seen on gasoline pumps at a BP gas station in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsLONDON, Sept 29 (Reuters) - BP's (BP.L) top executive in the United States, Dave Lawler, is leaving the company, the energy company said on Friday in a memo to employees, less than three weeks after the company's chief executive, Bernard Looney, resigned. He is the younger brother of Doug Lawler, chief executive of Continental Resources, another large U.S. shale oil and gas producer. BPX operations in Texas and Louisiana last year produced an average of 325,000 barrels of oil and gas per day. Alvarez, who joined the company in 1996, will continue in his role as senior vice president gas and power trading, Americas.

Persons: Andrew Kelly, Dave Lawler, Bernard Looney, Helge Lund, Lawler, Doug Lawler, Orlando Alvarez, Alvarez, Kyle Koontz, Ron Bousso, Juby Babu, Shilpi Majumdar, Daniel Wallis, Leslie Adler Organizations: REUTERS, BP, Energy, Continental Resources, Reuters, BP America, BPX Energy, Thomson Locations: Manhattan , New York City, U.S, United States, Gulf of Mexico, Texas, Louisiana, BP America, Americas, London, Bengaluru

☆ Goldman Sachs warns US energy policy is backfiring
▼ + stars: | 2023-09-27 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN Business —America’s emergency oil stockpile has plunged to 40-year lows. It has less levers left in its policy toolkit,” Daan Struyven, head of oil research at Goldman Sachs, told CNN in a phone interview. That’s one reason Goldman Sachs expects oil prices to stay high, averaging $100 a barrel this time next year. Saudi Arabia has an incentive to keep oil prices high in order to balance their budget. “Extremely high prices destroy long-term demand for Saudi barrels,” Struyven said.

Persons: Goldman Sachs, Daan Struyven, Biden, ”, Jennifer Granholm, Saudi Arabia’s, “, ” Struyven, Struyven, ” Francisco Blanch, Doug Lawler, “ That’s, ” Lawler, BofA’s Blanch, ” Blanch, ” Goldman’s Struyven, That’s Organizations: New York CNN Business —, Strategic Petroleum Reserve, CNN, Triple, White, Industry, Wall, The Energy Department, ”, Saudi, OPEC, AAA, Aramco, Bank of America, Resources, Bloomberg, Energy Department Locations: Saudi, Ukraine, Saudi Arabia, Russia, Saudi Aramco, OPEC

While the Florida governor had acknowledged that human-induced climate change was real earlier in his career, he has since backed away from that position, a shift that was apparent on Wednesday. "We will unleash American energy dominance as a way to stop inflation and achieve $2 gas in 2025," DeSantis said on Wednesday. DeSantis' speech, which was meant to broadly lay out his energy policy, comes as his campaign is in need of a boost. In addition to expanding fossil fuel production, DeSantis called for significant investments in so-called critical minerals, including the creation of a Critical Mineral Strategic Reserve. DeSantis said he would seek to require plaintiffs to pay compensation when they bring spurious litigation against energy projects.

Persons: Ron DeSantis, Mike Pence, Vivek Ramaswamy, Nikki Haley, Brian Snyder, DeSantis, Donald Trump's, Joe Biden, Harold Hamm, Dan Eberhart, Donald Trump, Gram Slattery, Sabrina Valle, Richard Valdmanis, James Oliphant, Timothy Gardner Organizations: U.S, South Carolina, Republican, REUTERS, Rights, Energy, Democrat, Continental Resources, Environmental Protection Agency, Republicans, Securities and Exchange Commission, Reserve, Thomson Locations: Florida, Milwaukee , Wisconsin, U.S, Midland , Texas, Texas, Colorado, California, Iowa

☆ Republican Hopeful DeSantis Attacks EVs, Emission Goals in Energy Plan
▼ + stars: | 2023-09-20 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +3 min

Taken as a whole, the plan represents a doubling down on pledges DeSantis and most of his Republican opponents have made on the campaign trail to jettison limits on fossil fuel production and consumption. While the Florida governor had acknowledged that human-induced climate change was real earlier in his career, he has since backed away from that position. The Florida governor has slid in the polls for months, and he now sits 37 points behind former President Donald Trump, according to the latest Reuters/Ipsos poll. DeSantis' plan calls on pensions and government accounts to eliminate environmental, social or governance considerations, known as ESG, from consideration when making investment considerations, a plan which tracks closely with moves he made as Florida governor. In addition to expanding fossil fuel production, DeSantis' plan calls for significant investments in so-called critical minerals, including the creation of a Critical Mineral Strategic Reserve.

Persons: Gram Slattery WASHINGTON, Ron DeSantis, DeSantis, Harold Hamm, Dan Eberhart, Donald Trump, Gram Slattery, Sabrina Valle, Richard Valdmanis, James Oliphant, Timothy Gardner Organizations: Republican, Continental Resources, Environmental Protection Agency, Republicans, Reserve Locations: Midland , Texas, Florida, Texas, Colorado, California

While the Florida governor had acknowledged that human-induced climate change was real earlier in his career, he has since backed away from that position. "We will unleash American energy dominance as a way to stop inflation and achieve $2 gas in 2025," DeSantis said on Wednesday. DeSantis' speech, which is meant to broadly lay out his energy policy, comes as his campaign is in need of a boost. The Florida governor has slid in the polls for months, and he now sits 37 points behind former President Donald Trump, according to the latest Reuters/Ipsos poll. In addition to expanding fossil fuel production, DeSantis called for significant investments in so-called critical minerals, including the creation of a Critical Mineral Strategic Reserve.

Persons: Ron DeSantis, Mike Pence, Vivek Ramaswamy, Nikki Haley, Brian Snyder, DeSantis, Harold Hamm, Dan Eberhart, Donald Trump, Gram Slattery, Sabrina Valle, Richard Valdmanis, James Oliphant, Timothy Gardner Organizations: U.S, South Carolina, Republican, REUTERS, Rights, Continental Resources, Environmental Protection Agency, Republicans, Reserve, Thomson Locations: Florida, Milwaukee , Wisconsin, U.S, Midland , Texas, Texas, Colorado, California

☆ Nikki Haley gets early support from wealthy donors while some remain on the sidelines
▼ + stars: | 2023-04-17 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Both Haley and Ramaswamy are trailing former President Donald Trump, according to the latest public polls. Team Stand for America's filing says the group received individual donations from wealthy donors ranging from $5,000 to $16,600. The joint fundraising committee finished raising over $4.3 million, while the Haley campaign itself brought in around $5.1 million, according to FEC records. Team Stand for America transferred about $1.8 million to the Haley campaign on March 31, according to the records. Leonard Stern, the CEO of real estate firm Hartz Mountain Industries, contributed the same amount as Hamm to Team Stand for America in March.

☆ Can the Oil-and-Gas Industry Crack Geothermal Energy?
▼ + stars: | 2023-04-04 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Geothermal has the worst of both worlds—the exploratory risk of oil and gas and the low-return profile of solar and wind. What is in it for the energy industry? Chevron , which divested its geothermal business in 2017, is dipping its toes back in through pilot projects or early stage exploration in California, Japan and Indonesia. Others exploring geothermal include BP, Shell, Continental Resources, Chesapeake Energy and Murphy Oil.

☆ Exclusive: Shale oil producer Continental Resources names Doug Lawler as CEO
▼ + stars: | 2022-12-06 | by ( Liz Hampton | ) www.reuters.com time to read: +1 min

Dec 6 (Reuters) - U.S. shale producer Continental Resources will name operating chief Doug Lawler as its new chief executive officer, according to a person familiar with the matter on Tuesday. Lawler was CEO at shale gas producer Chesapeake Energy (CHK.O) before joining Continental in February. Headquartered in Oklahoma City, Continental is one of the largest U.S. oil and gas shale drillers with a focus on North Dakota's Bakken shale. Lawler ran Chesapeake Energy for eight years, including through a bankruptcy process that it completed in 2021. He has been credited with whittling away at Chesapeake's $13 billion in debt and an ill-timed bet on shale oil just ahead of a oil price crash.

☆ We didn't want to be part of the herd so we departed and went private, says Continental Resources founder
▼ + stars: | 2022-12-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe didn't want to be part of the herd so we departed and went private, says Continental Resources founderHarold Hamm, Continental Resources founder and executive chairman, joins 'Squawk on the Street' to discuss the 'endless possibilities' for Continental Resources after going private, if his approach will change and more.

☆ Could Wildcatters Spoil the Oil Profit Party?
▼ + stars: | 2022-10-26 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Harold Hamm will buy the shares of Continental Resources not owned by him and his family to take the company private. When one of the biggest, most vocal oil bulls decides to leave the public-market pen, it is hard not to notice. Continental Resources announced last week that its founder, Harold Hamm , and his family, who already own roughly 83% of the oil and gas producer, will buy the remainder of the company, taking it private for $74.28 a share. That would allow Mr. Hamm, a perennial oil bull, to have free rein and do with his capital what he wants.

Oct 17 (Reuters) - Continental Resources Inc (CLR.N) said on Monday it had agreed to be taken private by billionaire-founder Harold Hamm in a deal that would value the U.S. shale producer at about $27 billion. Smead Capital Management, the largest shareholder after the Hamm family with around 2%, had said in June the original offer "undervalues" the company. Register now for FREE unlimited access to Reuters.com RegisterThe company's shares jumped more than 8% to $73.88 in premarket trading. Hamm founded Continental, the largest oil and gas producer in the Bakken shale, as Shelly Dean Oil Company in 1967, and ran it as a private firm until 2007. Hamm and his family own 83% of Continental's common stock and the deal does not require a vote by shareholders.

☆ Continental Resources Agrees to Buyout From Founder Harold Hamm
▼ + stars: | 2022-10-17 | by ( Chris Wack | ) www.wsj.com time to read: 1 min

Harold Hamm , the billionaire fracking pioneer who helped launch the U.S. shale boom, agreed to buy the shares of Continental Resources not owned by him and his family for $4.3 billion and take the oil producer private. Mr. Hamm and his family collectively hold about 83% of Continental, the Oklahoma City-based oil producer he ran for decades as chief executive, fueling a shale-drilling bonanza in the Bakken Shale of North Dakota that is one of the larger U.S. oil-producing regions.

☆ Continental Resources Gets Buyout Offer From Founder
▼ + stars: | 2022-10-17 | by ( Chris Wack | ) www.wsj.com time to read: 1 min

Continental would continue as the surviving corporation after merging with Harold Hamm’s Omega Acquisition. Continental Resources said Monday it is being bought by Omega Acquisition Inc., an Oklahoma corporation that is owned by Continental’s founder, Harold G. Hamm. The company said Omega will begin a tender offer to purchase any and all of the shares outstanding of Continental’s common stock at $74.28 a share, other than shares owned directly or indirectly by Mr. Hamm and the Hamm family, and shares of common stock underlying unvested equity awards issued pursuant to Continental’s long-term incentive plans.

☆ Stocks making the biggest moves midday: Roblox, Continental Resources, Fox Corp and more
▼ + stars: | 2022-10-17 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Fox Corp , News Corp — Fox shares dropped 8%, while News Corp gained more than 4% after Rupert Murdoch formed a special committee to explore a possible deal that would put his two media companies back together. Wells Fargo reiterated its equal weight rating on the streaming service ahead of the company's earnings this week. Speculative tech stocks — South American e-commerce stock Mercadolibre surged 11%, while Chinese tech stock Pinduoduo jumped more than 6%. Bank stocks — Several bank stocks moved higher Monday on positive earnings for the sector. Bank of NY Mellon gained 4.9% following its earnings beat and Signature Bank , set to report earnings on Tuesday, jumped 6%.

☆ Stocks making the biggest moves premarket: Continental Resources, Bank of America, Apple and others
▼ + stars: | 2022-10-17 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Bank of America (BAC) – Bank of America jumped 3.1% in premarket trading after beating top and bottom line estimates in its third-quarter earnings report. News Corp. (NWSA), Fox Corp. (FOXA) – News Corp. gained 3.5% in the premarket while Fox Corp. slid 4.1%. Meta Platforms (META) – Meta is falling short of its goals for its flagship metaverse product "Horizon Worlds", according to internal documents seen by the Wall Street Journal. Goldman added 1% in premarket trading. Archaea Energy (LFG) – The natural gas producer's shares soared 51.1% in premarket trading after agreeing to be acquired by BP (BP) for $26 per share.

По оценкам Международного энергетического агентства (МЭА), инвестиции в сланцевую добычу в этом году рухнут более чем вдвое — до 45 миллиардов долларов. Прогноз международного консалтингового агентства Rystad Energy — около 67 миллиардов долларов в этом году. Дальше — большеКак указывает Financial Times, в первом квартале крупнейшие независимые сланцевые компании зафиксировали рекордные совокупные убытки в размере 26 миллиардов долларов. Тогда 70 компаний объявили о финансовой несостоятельности, однако они были мелкими и оставили после себя в общей сложности 56 миллиардов долларов долга. По прогнозу аналитиков, до конца следующего года разорятся 250 компаний, если цены на нефть не подтянутся до нужного уровня.

Persons: — Whiting, Наталья Дембинская, Ли Тилман, Хейнсвилльском, Уил Ванлох, Ванлох, Регина Мэр Organizations: ., . Parsley Energy, Continental Resources, Texland Petroleum, —, — Whiting Petroleum, Hornbeck Offshore Services ., Hornbeck Offshore Services . California Resources Chesapeake Enrgy, Pickering Energy Partners, Energy, Rystad Energy, Quantum Energy Partners, ExxonMobil, — Financial Times, — Financial, Gas, Haynes, KPMG, Deloitte, Sputnik Moldova, Sputnik, РИА Новости, Parsley Energy, Continental Resources, Texland Petroleum, Whiting Petroleum, Hornbeck Offshore Services, California Resources, Pickering Energy Partners, Международное энергетическое агентство (МЭА), МЭА World Energy Outlook, Rystad Energy, Marathon Oil, FactSet, S&P 500, МЭА, Quantum Energy Partners, ExxonMobil, Financial Times, Extraction Oil & Gas, Haynes and Boone, KPMG, Deloitte, Telegram, Video, Radio Sputnik Moldova Locations: . Parsley, Hornbeck Offshore Services . California, —, Boone, КИШИНЕВ, США, Соединенные Штаты, Техас, Пермский, Игл-Фордском, Баккенском, Ниобромском, Анадаркском, Аппалачинском, Пермский бассейн, Игл-Форд, Северная Америка, Молдова

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