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Tag Archives: continental resources

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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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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North Dakota rig count at lowest level since 2010

The number of drilling rigs operating in North Dakota’s Bakken formation dropped to 158 this week, the lowest level since November 2010, according to a report by Reuters. The drop in the rig count is the latest reaction to declining oil prices. In one day, the state lost eight rigs, a dramatic decline that hasn’t been seen in years. In ...

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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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Global oil and gas exploration spending to slide 17 pct

HOUSTON, Jan 7 – The world’s oil and gas exploration companies are expected to cut capital expenditures 17 percent this year as a deep slump in crude oil prices takes a toll on budgets, according to a survey by Cowen and Company released on Wednesday. The survey, based on an average oil price of $70 per barrel, estimates that global ...

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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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Catching a falling knife in the oil market: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON, Jan 5 – “Don’t try to catch a falling knife” is sage advice for investors trying to identify the trough in a market like oil following a sharp selloff. Yet big moves also create the greatest potential for the mispricing of financial assets and commodities, which ...

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