Continental Resources Company History Timeline
In 1967, Harold Hamm founded Shelly Dean Oil Co., Continental's predecessor.
1974 Harold Hamm begins drilling a series of successful producing wells in Oklahoma
The company became Hamm Production Company in 1976, when Harold Hamm obtained ownership.
1985 Harold Hamm acquires Petro-Lewis and 500+ oil and gas wells, it remains the company’s largest acquisition
Disgruntled with overproduction of natural gas in Oklahoma, which flooded the market at unprofitable pay rates, Hamm guided the company toward expansion into oil development beginning in 1988, initially in eastern Montana’s Lustre field.
In 1990, the company formed a subsidiary, Continental Gas, Inc., for the purpose of providing ancillary services to the gas industry.
In 1990, the company was renamed Continental Resources.
1992 Continental purchases headquarters buildings in downtown Enid, OK
1993 Continental expands into the Rocky Mountain region and begins using 3-D seismic
In 1993, Continental made its first substantial acquisitions outside of Oklahoma, and most of the properties were suitable for alternative extraction of secondary reserves.
To gain access to air-injection technology, Continental acquired 50,000 acres of mineral rights from Koch Exploration in 1995.
In 1995, the company discovered what was later described as the Cedar Hills Field in North Dakota, the 7th largest onshore field in the lower 48 United States ranked by liquid proved reserves, and was the first to develop it exclusively through precision horizontal drilling.
In 1996, the company purchased 19 oil and gas wells in Kansas and New Mexico and planned to apply the technique there when it became economically feasible.
A private offering of $150 million in senior subordinate notes supported the 1998 purchase of oil development interests at Big Horn Basin in northern Wyoming.
Through a joint venture with Challenger Minerals, Inc., Continental began drilling offshore in July 1999.
In July 2000, the company concluded the acquisition of all assets from Farrar Oil Company, including Har-Ken Oil Company, for a total compensation of $33.7 million.
Also, Continental expanded its natural gas services with the $12 million acquisition of Carmen Gathering System in western Oklahoma in August 2003.
2003 Continental enters the North Dakota Bakken with a purchase of 300,000 acres
By 2003, project developments in the Rocky Mountain region progressed, particularly at the Cedar Hills field in North Dakota and Montana.
In 2003, the company drilled its first wells in the Bakken formation.
In 2005 alone, oil production rose 55 percent, to 5.71 million barrels of oil.
In March 2006 Continental announced plans for an initial public offering of stock, intending to raise $575 million.
In April 2006, the company acquired a 50 percent interest in the Marfa Basin in southwest Texas.
2007 Continental is listed on the New York Stock Exchange (ticker symbol: CLR)
In 2007, the company became a public company via an initial public offering in which Harold Hamm sold approximately $300 million worth of his shares.
In 2008, the company was the first to complete a horizontal well in the Three Forks zone.
In 2010, Continental introduced the ECO-Pad® drilling technique, which involves drilling 4 wells from 1 pad.
2011 Interactive Media Council, Inc. names Continental’s Web site Best in Class in the Energy Industry, created by a team led by Brian Engel and designed by Marker Seven.
2012 Harold Hamm named one of TIME Magazine’s 100 Most Influential People in the World”
Continental Resources wins “Company” and “CEO” of the year titles at the 2013 Platts Global Energy Awards
Harold Hamm is named 2015 Wildcatter of the Year by the Western Energy Alliance
In 2016, the company sold assets in North Dakota and Montana for $222 million.
In 2017, the company sold 26,000 acres in the Arkoma Basin for $68 million.
In 2021, the company acquired 92,000 net leasehold acres and 50,000 net royalty acres in the Permian Basin for $3.25 billion from Pioneer Natural Resources.
"Continental Resources, Inc. ." International Directory of Company Histories. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/continental-resources-inc
In 2022, the Company will celebrate 55 years of operations.
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|---|---|---|---|---|
| Devon Energy | 1971 | $19.2B | 1,400 | 26 |
| Chesapeake Energy | 1989 | $11.7B | 1,300 | 25 |
| SandRidge Energy | 2006 | $254.3M | 270 | - |
| The Williams Companies | 1908 | $11.0B | 5,425 | 213 |
| Chevron | 1879 | $146.5B | 44,679 | 394 |
| Diamond Offshore Drilling | 1978 | $1.5B | 2,500 | 12 |
| Helmerich & Payne | 1920 | $2.1B | 9,777 | 33 |
| Exxon Mobil | 1870 | $402.2B | 72,000 | 124 |
| Octagon 88 Resources | - | - | - | - |
| Cameron Welding Supply | 1963 | $8.8B | 35,000 | - |
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