Harold Hamm will take over as executive chairman of Continental Resources effective 1 January 2020, stepping down from his CEO position. William Berry, a former ConocoPhillips executive and current member of Continental’s board, will succeed Hamm as CEO, and current president Jack Stark will assume the additional role of COO.
Hamm founded Continental in 1967, helping the company become one of the largest oil producers in the Bakken and SCOOP/STACK plays. Continental is now Oklahoma’s fourth-largest public company. Through his lobbying work with the Domestic Energy Producers Alliance, which he co-founded, Hamm was a key player in the lifting of the US ban on crude oil exports. He is considered a pioneer in shale drilling, popularizing the use of horizontal drilling and hydraulic fracturing to boost production in the Bakken.
Hamm said in a statement that he will work with Berry to help cultivate new strategic opportunities at Continental.
“I’m not going anywhere,” he said. “Continental has never been stronger, and we are enjoying record production coupled with strong free cash flow.”
Don't miss out on the latest technology delivered to your email every two weeks. Sign up for the OGF newsletter. If you are not logged in, you will receive a confirmation email that you will need to click on to confirm you want to receive the newsletter.