Continental Resources Business Practices

[ou48A]

Suggested reading on CLR

If this is any indication the CLR future looks preety bright...
I suppose CLR could eventually be bought out and moved.....
but one thing they can't take away from us is the SCOOP that's talked about on the link.

Where Can You Find the Next ExxonMobil?

[ou48A]

CLR stock just hit 130 today.
Wish I had more.

[catch22]

CLR stock just hit 130 today.
Wish I had more.

A lot of technical analysts say it is overbought at the 128-132 range. I'd expect it to back off some, and retrace back into the 118-125 range.

[Pete]

Harold Hamm: The Billionaire Oilman Fueling America's Recovery - Forbes

Listen to Harold Hamm and you leave convinced that America’s great shale energy boom is still in its infancy. There are enough natural gas reserves, he says, to allow America self-sufficiency for the next 200 years. As for oil, he says North Dakota’s Bakken field alone will “absolutely” double output to 2 million barrels per day, a bullish prediction no other industry leader will touch.

When Hamm begins small-talking McClendon’s wife, McClendon himself leans over to a FORBES reporter in a fit of pique. “I don’t get it,” he whispers. “You write all this bad stuff about me, while you hold up Harold Hamm as some paragon of virtue.”

[Plutonic Panda]

Where does Harold Hamm live?

[Pete]

Where does Harold Hamm live?

He has a huge mansion in Nichols Hills.

Bought it when his company was still HQ'd in Enid.

[Plutonic Panda]

Ok cool. Didn't know if he lived inside Oklahoma County or not. Awesome to hear!

[Pete]

This is pretty stunning:

Hamm points out his head count: 950 versus Devon’s 6,000 and Chesapeake’s 11,000. Yet Continental’s market capitalization, at $23 billion, is just a tad under Devon’s–and already well ahead of Chesapeake’s

[HangryHippo]

I hope Continental continues to do well for a long, long time here in OKC. And I hope they need new a new office tower downtown soon.

[ou48A]

This article really does a great job of showing why CLR has been a very well managed company.

People who knew the industry knew in the early 2000's that CHK business methods did not bold well for its long term future.
Operating his business as efficiently as possible has been a trade mark of Harold Hamm.
His upbringing and early business struggles no doubt taught him the value of efficiency and tight control on cost.

[ou48A]

This is pretty stunning:

Hamm points out his head count: 950 versus Devon’s 6,000 and Chesapeake’s 11,000. Yet Continental’s market capitalization, at $23 billion, is just a tad under Devon’s–and already well ahead of Chesapeake’s

I already knew there was a big difference.
This just goes to show there is far more to know about a company’s performance than how many employee’s they have.... Particularly in their HQ home..
How efficiently employees are employed compared to their competitors in their industry sector is one thing I look for.
This can sometimes best be seen by the rate of return on capitol.
For example of the major integrated oil company’s XOM and in spite of their huge size has the industry’s best rate of return on capitol.
This is an indication of how well run a company is IMHO.

[onthestrip]

"When Hamm begins small-talking McClendon’s wife, McClendon himself leans over to a FORBES reporter in a fit of pique. “I don’t get it,” he whispers. “You write all this bad stuff about me, while you hold up Harold Hamm as some paragon of virtue.”

Haha, maybe because Hamm is more concerned with actual oil and not spending shareholders money on ridiculous things or self dealing.

You gotta think CLR will be building a new OKC headquarters soon

[ou48A]

You gotta think CLR will be building a new OKC headquarters soon

If he holds true to form Hamm will do whatever is most cost effective.

[Urbanized]

"When Hamm begins small-talking McClendon’s wife, McClendon himself leans over to a FORBES reporter in a fit of pique. “I don’t get it,” he whispers. “You write all this bad stuff about me, while you hold up Harold Hamm as some paragon of virtue.”...

Ouch. I doubt Aubrey thought he was saying that on-the-record. I'll bet he doesn't have any more unguarded moments with that particular reporter in the future.

[Pete]

What's more surprising is McClendon saying "I don't get it".

Does he really not understand the difference between him and Hamm? Especially the part about CLR's wild success and Hamm maintaining control of 70% of the company, while Aubrey nearly bankrupted CHK, was fired and squandered 95% of his personal stake in the company.

And Hamm buying a hand-me-down building (he paid for it personally) from Devon while AKM was spending other people's money like a drunken sailor?

[ou48A]

Based on his history I'm not sure AKM gets the concept of fiduciary responsibility?

[Pete]

This is a photo of that exact moment with Hamm, McClendon, McClendon's wife, and the Forbes reporter.

Thanks to Bellaboo for the shot:

[Dubya61]

Aren't McClendon and Hamm running oil companies from entirely different perspectives, though? I'll admit that all I know about Chesapeake (and now AEP) and CLR comes from OKC Talk and I've got a poor memory, but isn't AKM running a mineral rights company while HH is running a petroleum company?

[Bellaboo]

Aren't McClendon and Hamm running oil companies from entirely different perspectives, though? I'll admit that all I know about Chesapeake (and now AEP) and CLR comes from OKC Talk and I've got a poor memory, but isn't AKM running a mineral rights company while HH is running a petroleum company?

The are both E&P, McClendon's firm, American Energy Partners just recently bought all of Calyx Energies interest in Payne County and is drilling the Woodford Shale as we speak.

[Dubya61]

The are both E&P, McClendon's firm, American Energy Partners just recently bought all of Calyx Energies interest in Payne County and is drilling the Woodford Shale as we speak.

Let's pretend I know absolutely nothing (JTF, Jersey Boss and onthestrip are there already, right, guys?). What's E&P?

[DoctorTaco]

Aren't McClendon and Hamm running oil companies from entirely different perspectives, though? I'll admit that all I know about Chesapeake (and now AEP) and CLR comes from OKC Talk and I've got a poor memory, but isn't AKM running a mineral rights company while HH is running a petroleum company?

Broadly speaking you are right. CHK under AKM was more of a speculation company. Lease the mineral rights, drill to prove and then flip the property. Continental is more old-school: drill, pump, produce, sell.

[ou48A]

"Tom Steyer, the San Francisco billionaire who founded Farallon Capital and has now pledged $100 million to back progressive politicians. To Hamm he’s “the world’s biggest hypocrite,” as he rails against the fact that Steyer made his fortune, in part, by investing in fossil fuels. Hamm sees the antifracking crowd in dollar terms, funded by investors in green energy innovations rendered uneconomical.

“That’s why these guys are raising so much hell, because suddenly they realize that everything they’ve invested in isn’t going to work,” says Hamm. “They know they’re misleading the public.”

[Bellaboo]

Let's pretend I know absolutely nothing (JTF, Jersey Boss and onthestrip are there already, right, guys?). What's E&P?

Exploration and Production

[betts]

This is a photo of that exact moment with Hamm, McClendon, McClendon's wife, and the Forbes reporter.

Thanks to Bellaboo for the shot:

The man Aubrey is talking to looks like Scott Brooks.

[Pete]

The man Aubrey is talking to looks like Scott Brooks.

It's the Forbes reporter, Christopher Helman: