Shale King Hamm: No Intention of Adding Rigs at $60

The transcript discusses US shale production strategies, focusing on Harold Hamm's approach to maintaining discipline in production despite fluctuating oil prices. It covers the concept of drilled but uncompleted wells, market balance, and future production growth plans. The discussion also touches on capital expenditure requirements and company priorities, emphasizing the importance of managing debt and cash flow effectively.

What is Harold Hamm's approach to rig deployment when oil prices are around $60 per barrel?

• Increase the number of rigs significantly

• Double the current number of rigs

• Maintain a disciplined approach with minimal rig addition

• Stop all rig operations

What is the expected oil price range for Continental Resources to consider adding rigs?

• $55-$65

• $85-$95

• $40-$50

• $70-$80

What triggers Continental Resources to start completing drilled but uncompleted wells?

• Increased competition

• Government incentives

• A balance in supply and demand

• A significant drop in oil prices

In which region has Continental Resources been growing production to offset declines elsewhere?

• Northern Texas

• Southern Oklahoma

• Western Pennsylvania

• Eastern Colorado

What is the minimum capital expenditure required by Continental Resources to maintain steady production?

• $920 million

• $500 million

• $1.3 billion

• $2 billion

What is the primary focus of Continental Resources when it comes to using extra cash flow?

• Paying dividends

• Reducing debt

• Increasing production

• Expanding into new markets

How does Continental Resources plan to manage its debt ratio?

• By expanding aggressively

• By increasing dividends

• By maintaining production within cash flow

• By acquiring new companies