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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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‘Black tears’ of oil tycoons

SEOUL — South Korea often proclaims to itself as “a country that does not produce oil” — a sort of rallying cry to encourage itself to survive in a largely oil-based world order. Oil is necessity for improving one’s industries, and some people have become billionaires by taking over oil production, distribution and filtration. The total assets of the current ...

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Continental CEO pledges shares as collateral for personal loan

Continental Resources Inc said Harold Hamm, its chief executive officer and majority shareholder, has pledged about one-fourth of the company shares he owns as collateral for a personal loan, according to a regulatory filing. The Jan. 13 Securities and Exchange Commission filing doesn’t state the purpose of the personal loan. However, Hamm’s divorce lawyers recently said he took out a ...

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Top 5 stories of the week

Here are the top five stories from Bakken.com for the week of January 5 through January 9. Enjoy! 5. Bakken rigs slow as prices drop On Monday the price of oil per barrel dipped to around $50, a five year low, causing stock prices to plunge and bringing new focus on how oil companies operating in the Bakken formation will respond. ...

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Bakken rigs slow as prices drop

On Monday the price of oil per barrel dipped to around $50, a five year low, causing stock prices to plunge and bringing new focus on how oil companies operating in the Bakken formation will respond. The Bismarck Tribune reports that crude slated for delivery in February was listed on the New York Mercantile Exchange at $50.35 on Monday. Also ...

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Top 5 stories of the week

Here are the top five stories from Bakken.com for the week of December 29, 2014, through January 2, 2015. Enjoy! 1. The end of North Dakota’s oil boom is here The Williston Herald is reporting that the Bakken Club, a business which made national headlines by operating as an exclusive, members only club in a tiny western North Dakota town, has ...

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As oil falls, Hamm wants second look at divorce

Just a month after labeling the outcome of his divorce “fair,” billionaire oilman Harold Hamm appears to have changed his mind. The news agency Reuters reported Tuesday that Hamm’s appeal calls the decision to award his ex-wife $1 billion “erroneous and inequitable.” His appeal comes at a time when the price of oil has plunged by half, Reuters noted, which ...

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