OKLAHOMA CITY (KFOR) - Continental Resources, Inc. announced today that Founder and Chief Executive Officer Harold Hamm will begin a new role as Executive Chairman on January 1.
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 opportunity to expand our leadership. He brings a notable resume and track record of success second to none," said Hamm. "Like me, his DNA is oil and gas exploration and production. What makes Bill special is his ability to identify and nurture talent. Plus, his extensive global energy market experience will serve the Company well. He's deeply rooted in our culture and leadership at Continental, having served on our board for the past five years. He has been my personal confidant and is a trusted adviser that has helped guide our executive team."
Berry served as Executive Vice President of Exploration and Production for ConocoPhillips from 2003 until his retirement in 2008. He has served on the Continental Board of Directors in a variety of roles since 2014.
"It's a great honor to step into a leadership role at Continental. Harold and his team have built one of the greatest energy companies in America," stated Berry. "I know firsthand the people at Continental are among the most talented, motivated, and innovative in the industry. We are perfectly positioned for the future because of Continental's ability to produce highly sustainable, low-cost, light sweet oil and natural gas," he continued. "This is a high performance, high ambition company. I look forward to partnering with Harold, and working with Jack and the entire Continental team on the next chapter of this remarkable Company's future."
Harold Hamm started Continental 52 years ago when he was 21 years old. Now, the fracking pioneer is Oklahoma’s richest man.
In the 1990s, he came up with the idea to use horizontal drilling and hydraulic fracturing in North Dakota’s Bakken region, which transformed the US oil industry as we knew it.
"As for me, I'm not going anywhere. I'm an oil finder and geologist at heart. Working together, Bill and I will help the Company cultivate new strategic opportunities. This is the right time to bring him on board: Continental has never been stronger, and we are enjoying record production coupled with strong free cash flow. As most everyone knows, I have a long history of buying, not selling our stock and that will not change. We are living in the new oil era, driven by the American Energy Renaissance. The result is a stronger economy, a stronger energy independent America, and a safer world. With Bill, Jack and our extraordinary team, we will define that new era going forward. Continental is a company with a very bright future. Our Company is built to last," added Hamm.
Today, Continental is the dominant oil producer in the Bakken of North Dakota and leading oil producer in Oklahoma.