What we care about and why.
Letter from Harold Hamm, Founder & Executive Chairman
We believe domestic oil and natural gas exploration is fundamental to the well-being of our nation and the world. We further believe it should be done responsibly, safely, and with integrity.
At Continental Resources, we have always taken pride in operating our company with high ethical and environmental standards. Long before there was an ESG movement, we were managing our operations accordingly. Our core business is, of course, oil and natural gas exploration and production, an enterprise that we believe hugely contributes to the well-being of every American. Early on, before nearly any other, we saw a future in which America could become energy dominant. Our vision allowed us to become a major contributor to the “American Energy Renaissance.”
Today, thanks in part to our leadership, the United States is the world’s largest producer of energy. Horizontal drilling was the catalyst: a safe, proven technology that has unlocked huge reservoirs of energy, while helping to minimize environmental impact. For example, in the early ’80s, we developed and formalized an entirely new technology, our proprietary ECO-Pad®. We are now at the point where we can drill up to 12 wells from a single pad, which helps minimize our footprint. Our technology is among the highest standard in our industry.
In the past decade, America has gone from a world of perceived energy scarcity to one of energy abundance. Today, our country is guaranteed a sustainable and affordable energy supply for generations to come. Incredibly, we are now energy independent, a net exporter of oil and natural gas. While we recognize the advances and deployment of alternative energy sources, oil and natural gas will continue to fuel 80% of the world’s energy consumption, experts conclude. There isn’t any energy future or, for that matter, societal future without oil and natural gas. The virtues of this new energy era are many:
- CO2 emissions in the U.S. have declined by 15% since 2006, thanks to the availability and affordability of natural gas, making us the envy of the industrialized world.
- The world’s need for energy is growing, and the U.S. is meeting that demand both here and abroad.
- America is no longer dependent on unfriendly and unreliable regimes for energy, and our allies now have an alternative source.
We believe affordable energy is the most important driver of economic growth and security, here and across the planet. The impoverished pay a disproportionate share of their income to stay warm and to have access to the basic comforts that electricity supplies. Access to low-cost hydrocarbons is one of the best anti-poverty initiatives on the planet. We believe domestically produced energy not only improves lives, but potentially saves lives by freeing us from the yoke of foreign entanglements.
Continental Resources is a major producer of the light, sweet crude oil that the world needs to reduce emissions while improving lives. We are proud to be one of America’s premier oil finders. For more than 50 years, our company has been committed to standards that we believe lead our industry, from well safety to worker health. We strongly support education, particularly in the sciences and health care, and we are strong advocates for our industry. You will also find us taking a leadership role in the communities we serve.
Think of us as a technologically elite company, managed with integrity, always working to get better at everything we do, and forever dedicated to changing the world for the better.
Despite the recent disruptions caused by COVID-19, Continental Resources is uniquely positioned for success. While the near-term marketplace is clearly in flux, when the world settles into its new normal, we believe we are well-suited to take advantage of the opportunities and challenges to come. We are the lowest-cost operator among our oil-weighted peers thanks to the quality of our assets, our operations, and our people. We have a well-established track record of exploration success which will serve us well in this adverse environment.
As we look to 2020 and beyond, our mission remains the same: deliver results in the most efficient and profitable manner possible, and count on our teams to deliver the right rock, with the right density, at the right cost. We know no other way.
I hope you will take the time to learn more about who we are, and why we are all in when it comes to setting the bar on ESG.