Big leadership changes are coming to Oklahoma City’ Continental Resources, Inc., the company founded 52 years ago by oilman Harold Hamm.
Effective January 1, 2020, Hamm, who hold formal titles of Founder and Chief Executive Officer will step up to the role of Executive Chairman.
William Berry has been named the new Chief Executive Officer and President Jack Stark will assume the additional role of Chief Operating Officer.
“Bill gives us an extraordinary opportunity to expand our leadership. He brings a notable resume and track record of success second to none,” said Hamm, Founder, CEO and majority shareholder. “Like me, his DNA is oil and gas exploration and production. What makes Bill special is his ability to identify and nurture talent. Plus, his extensive global energy market experience will serve the Company well. He’s deeply rooted in our culture and leadership at Continental, having served on our board for the past five years. He has been my personal confidant and is a trusted advisor that has helped guide our executive team.”
“It’s a great honor to step into a leadership role at Continental. Harold and his team have built one of the greatest energy companies in America,” stated Mr. Berry. “I know firsthand the people at Continental are among the most talented, motivated, and innovative in the industry. We are perfectly positioned for the future because of Continental’s ability to produce highly sustainable, low-cost, light sweet oil and natural gas,” he continued. “This is a high performance, high ambition company. I look forward to partnering with Harold, and working with Jack and the entire Continental team on the next chapter of this remarkable Company’s future.”
Hamm added, “As for me, I’m not going anywhere. I’m an oil finder and geologist at heart. Working together, Bill and I will help the Company cultivate new strategic opportunities. This is the right time to bring him on board: Continental has never been stronger, and we are enjoying record production coupled with strong free cash flow. As most everyone knows, I have a long history of buying, not selling our stock and that will not change. We are living in the new oil era, driven by the American Energy Renaissance. The result is a stronger economy, a stronger energy independent America, and a safer world. With Bill, Jack and our extraordinary team, we will define that new era going forward. Continental is a company with a very bright future. Our Company is built to last.”
Berry has spent more than four decades in the oil and gas business, serving in a variety of roles, including as an executive with ConocoPhillips where he was responsible for global operations managing over 10,000 employees and over $12 billion in capital expenditures. He has served on the Continental Board of Directors in a variety of roles since 2014. He holds a bachelor’s and master’s degree in petroleum engineering from Mississippi State University.
Harold Hamm started Continental 52 years ago. He is credited with leading the effort to end the export ban in 2015, which has resulted in huge economic and environmental benefits to the United States.
Today, Continental is the dominant oil producer in the Bakken of North Dakota and the dominant oil producer in Oklahoma from its SCOOP and STACK assets.