What’s Harold Hamm have to say about the energy industry in recent days?
For one thing, the billionaire founder and head of Continental Resources Inc. believes energy producers have entered an era of fiscal discipline. It’s what he indicated in a recent interview on MSNBC’s ” “Squawk on the Street” adding that drillers won’t be doing lavish spending the way they once did.
“That’s not the deal anymore and finally the analysts and everybody else caught on,” said Hamm. “Shareholders caught on and said ‘We’re not going to put money in there just for growth’s sake. We want a return, a good return on capital employed.'”
Hamm told the program that the new dynamic has entered into the market.
“It’s affecting everybody out here and thank God it’s there,” he said.
