Continental Resources CLR.N, the pioneering U.S. driller that bet big on North Dakota’s Bakken shale patch when its rivals were looking abroad, is once again flying in the face of convention: cashing out some $4 billion worth of hedges in a huge gamble that oil prices will rebound.Late on Tuesday, the company run by Harold Hamm, the Oklahoma wildcatter who once sued OPEC, said it had opted to take profits on more than 31 million barrels worth of U.S. and Brent crude oil hedges for 2015 and 2016, plus as much as 8 million barrels’ worth of outstanding positions over the rest of 2014, netting a $433 million extra profit for the fourth quarter. Based on its third quarter production of about 128,000 barrels per day bpd of crude, its hedges for next year would have covered nearly two-thirds of its oil production.
- An error has occurred; the feed is probably down. Try again later.
- NETL experts say research could improve Marcellus Shale environmental impacts - Daily Energy Insider March 20, 2019
- CPPIB, Williams to form $3.8 billion Marcellus-Utica shale gas venture - Reuters March 18, 2019
- Shale study: Marcellus to supply 45 percent of natural gas to US - northamericanshalemagazine.com March 20, 2019
- Mexican presidential frontrunner will not reverse energy reform: adviser
- Global commodity trader Koch cuts staff in restructuring
- Energy partnerships simplify business models to spur growth
- Mexico Strives to Generate a Homespun Fracking Revolution | 2018-02-21 | Natural Gas Intelligence
- Avant plans logistics system to import refined products into Mexico
- Mexico’s Natural Gas Dilemma | OilPrice.com
- India Wants Eleven More LNG Import Terminals
- Energy CEOs ask President Trump to fund Port of Corpus Christi Ship Channel Improvement Project – HBJ
- Q&A: Plastics boom keeps Houston humming – Houston Chronicle
- Commodities fund Jamison Capital to shut – Reuters