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Continental Resources
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factoring for continental resources

Continental Resources

Considered among one the of the most independent and renowned oil producers in the United States, Continental Resources is leading the energy renaissance in America. The company is located in Oklahoma City and is one of the biggest leaseholders and producers in the state’s oil industry. Continental Resources’ primary operations are in Oklahoma. The company includes the SCOOP Woodford and the SCOOP Springer discoveries and the STACK and Northwest Canada plays. The company is famous for their groundbreaking oil exploration, as well as oil production. After unlocking several resources and technological advancements they are now a vital contributor in the global oil market. In 2017, Continental Resources is celebrating their 50th year of operations and their roe in American energy independence.

History

Before it was called Continental Resources, it was first named Shelly Dean Oil Corporation by Harold Hamm in 1967. The company then changed its name to Continental Resources in 1990. Five years later, the company found an onshore field in the lower 48 of the United States. Since then, the company has blossomed and received numerous awards. They were pioneers in promoting horizontal drilling when Robert Heuer 1-17R was completed in Divide County. In 2007, Continental Resources became a public company. Harold Hamm sold an estimated $300 million in shares through an IPO. After consistent successful operations, the company moved its headquarters to Oklahoma City.

Operations

Continental Resources focuses their operations on the Red River Unit, Anadarko Woodford and Bakken field plays. Their operation strategy is built on creating shareholder value. To achieve this, their methods of acquiring their products promote organic growth and use modern technology to collect natural gas and oil resources.

Advanced Technology

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Companies looking for factoring for Continental Resources partner with TCI Business Capital, North America’s oilfield experts.

Continental Resources has always been a pioneer in utilizing modern technology in their operations. Not only did they find one of the biggest oil fields in the United States, but they were also one of the first companies to implement the well stimulation and the horizontal drilling system. With their methods, exploring and producing natural oil and gas has always been an efficient operation.

The meteorite that crashed in Ames, Oklahoma about 450 million years ago became one of the company’s research sites. The eight-mile diameter meteorite, which was buried under sediments, was discovered by Harold Hamm, allowing the company to complete its seismic surveys.

This crater is considered to be one of the six craters in the United States that produces oil. Also, this crater’s production rate is among the highest in the area. It generates over 20 million barrels of oil and emits 130 billion cubic feet of natural gas. Because of its economic importance, this crater has been deemed as one of the most noteworthy research sites in the world. Such an abundant site deserves only the most advanced technologies. Continental Resources has devoted its resources to ensure that research and production done here are of the highest standard. Oil extraction techniques at this location are listed below.

ECO-Pad

This is a drilling method in which the company creates four wells from one drilling machine. This machine creates an efficient site with the ideal spacing and formation on the ground. Not only is this technology great for harvesting more resources, but it also reduces environmental damage on the land. The first ECO-Pad operation was launched 2010. Since then, this cost-saving method has been consistently used.

Horizontal Drilling

A sure way to increase the growth of gathered resources, this method aims to unlock hidden reservoirs. This has resulted in the United States becoming less dependent on foreign countries for oil. Occasionally, the target spot for drilling is located below a freshwater source; Continental Resources ensures that contamination is avoided. Horizontal drilling uses pipes that are encased, eliminating pollution in the water.

Well Stimulation

The use of the pressurized water and sand is applied by the company to crack open the rock formations beneath the ground. This allows the jet of liquid to seep into the small subterranean fissures. The trapped oil and natural gases will then be released and taken by the pipes above the surface.

Company Awards

The works of Continental Resources did not go unnoticed by governing bodies and organizations. The following are some of the accolades that the company has earned.

2012

  • The founder of the Continental Resources, Harold Hamm, was included in the TIME Magazine and highlighted as one of the most influential people in the world.

2013

  • In the Platts Global Energy Awards, Continental Resources was named the Company of the year, with the CEO being named as the CEO of the year.
  • The company was recognized by Williston API for their exceptional achievements in the oil industry.
  • They were named as the E&P Company of the year at the Oil and Gas Awards.
  • The company was one of Fortune’s “100 Fastest Growing Companies.”
  • Harold Hamm was recognized as one of the most admired CEOs in the category of public companies by the Journal Record.

2014

  • Continental Resources won the favor of Oil and Gas Investor and was given the Best Corporate Citizen Award.

2015

  • The company’s Resource Development Manager Heath Mireles was hailed as one of the Oil and Gas Investor’s 30 Under 40.
  • The Western Energy Alliance titled Harold Hamm “Wildcatter of the Year.”
  • Blu Hulsey, Vice President of Government and Regulatory Affairs, was acknowledged as an achiever under 40 by the Journal’s Records.
  • The company was given the Best Discovery Award by Oil and Gas Investors.

2016

  • During the Platts Global Energy Awards, Harold Hamm received the Lifetime Achievement Award.
  • U.S. Steel Tubular Products titled Harold Hamm “Chief Roughneck.”
  • Mary Van Domelen, the company’s engineer advisor, is a recipient of the SPE Mid-Continent Regional Award in completions optimization and technology.
  • During the Horatio Alger Award Induction Ceremonies, Harold Hamm was given recognition and was accepted as a lifetime member of the organization.
  • Harold Hamm was titled by the Oil and Gas Investor as the Executive of the Year.

Continental Resources

20 N. Broadway
Oklahoma City, OK 73102
405-234-9000
http://www.contres.com/

 

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