Continental Adds Another Continent to its International Portfolio
The name of the book is Game Changer: Our Fifty-Year Mission to Secure America’s Energy Independence. The author, a rags-to-riches phenom and pioneer of the shale revolution who’s made an art out of unlocking tight rock with a combination of fracking and horizontal drilling. In America’s oil and gas industry, Harold Hamm and his Okla. City-based Continental Resources are legend, and which this year have gone a-hunting outside the U.S.
Reese Energy Consulting today is following the latest from Continental, where Hamm passed the CEO torch to Doug Lawler in 2022 but remains an active voice in the company’s direction to seek out fresh opportunities while making hay of its core assets in the Permian, Bakken, Powder River, and Anadarko basins. He’s also probably the best damn brand ambassador an E&P could ever hope for. Especially outside the nation’s borders where Continental is growing its international footprint by leaping on untapped, unconventional oil and gas resources in need of a shale rock star.
Back in March, Hamm spoke at CERAWeek with a warning domestic oil production was starting to plateau, followed by the announcement Continental had entered a JV to develop untapped, unconventional oil and resources in Turkey’s Diyarbakir and Thrace basins. Total recoverable resources could mean 6 Bbbls of oil and as much as 65 TCF of gas.
Now in its second international deal inside a year, Continental has snapped up a 90% stake in Argentina’s Los Toldos Oeste oil block in the Vaca Muerta shale play, considered one of the world’s leading unconventional plays and ripe for development. Details of the deals in Turkey and Argentina were not disclosed.