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Tag Archives: continental resources

Nearly 19,000 gallons of saltwater spills north of Tioga

BISMARCK, N.D. — The state Department of Health says a pipeline has leaked nearly 19,000 gallons of saltwater in northwest North Dakota. The pipeline owned by Continental Resources ruptured after it was struck by equipment excavating at the site about 16 miles north of Tioga. The 450-barrel saltwater, or brine, spill was contained to the excavated area near the pipeline. ...

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Top 5 Bakken stories of the week

Here are the top five stories from Bakken.com for the week of February 22 through February 27. Enjoy! 5. Stats show oil patch highway is most dangerous in state BISMARCK, N.D. — The main north-south artery in North Dakota’s oil patch is the most dangerous stretch of road in the state, newly released statistics show. U.S. Highway 85 had the most ...

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Continental gets one last boost from sale of oil hedges

WILLISTON, N.D. – Continental Resources Inc posted a fourth-quarter profit well above Wall Street’s expectations on Tuesday, as a one-time gain from the sale of crude hedges helped offset tumbling oil prices. Continental reported net income of $114 million, or 31 cents per share, compared with $132.8 million, or 36 cents per share, in the year-ago period. Excluding one-time items, ...

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Hamm’s EX wants more

Harold Hamm’s divorce battle isn’t over yet and may cost him even more. Sue Ann Arnall, Hamm’s ex-wife, recently received a settlement check just shy of $1 billion, but that isn’t enough.  After cashing the check for $975 million, Arnall is appealing her divorce decree and asking for more, considering she only received less than 10 percent of Hamm’s total ...

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Activist investors dig deep in energy company bets

NEW YORK – Elliot Management Corp. and Omega Advisors Inc. are among activist hedge funds buying stakes in North American oil and gas producers whose stock has fallen because of weaknesses exposed by the collapse of energy prices. It’s a bet on a view that’s contrary to some analysts: that oil prices are poised to rebound. This month Citigroup cut ...

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Hamm: “Oil prices could rebound faster than expected”

Despite the many recent non business-related headlines about him over the past month, folks within the oil and gas industry should still respect what Harold Hamm has to say. The Continental Resources CEO said Wednesday that he believes “the market doesn’t understand just how quickly oil companies are scaling back their activities, and as a result, oil prices could rebound ...

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Kinder Morgan entering Bakken with $3 billion deal

HOUSTON – Leading U.S. pipeline Kinder Morgan Inc <KMI.N> said on Wednesday it will enter North Dakota’s Bakken shale with a $3 billion acquisition of Hiland Partners, a pipeline and logistics company founded by Continental Resources <CLR.N> Chief Executive Officer Harold Hamm. The deal includes acreage in the Bakken’s top producing counties from which Kinder expects substantial oil output despite ...

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Kinder Morgan to buy Hiland Partners for $3 billion

HOUSTON – Leading pipeline company Kinder Morgan Inc <KMI.N> will buy Hiland Partners, a pipeline and logistics company founded by Continental Resources Inc <CLR.N> Chief Executive Officer Harold Hamm, for $3 billion, the company said on Wednesday. Hiland Partners builds and operates oil gathering and transportation pipelines and natural gas gathering and processing systems primarily in the Bakken shale oilfields ...

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Low oil prices won’t slow production, jobs in SCOOP

Cost reductions, lower gas prices and falling oil stocks will not have a large impact on SCOOP production, according to one Continental Resources vice president. Warren Henry, vice president of research and policy for Continental said although reductions in capital expenditures have been substantial, the company’s investment in the SCOOP is too much for it consider slowing down due to ...

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