With the impending departures of Expand Energy and Devon Energy, firms moving their headquarters to Houston, it leaves one major oil and gas firm in Oklahoma City—Continental Resources.
The company founded by Harold Hamm is still considered the largest privately held oil and natural gas producer in the world. In addition to being the largest leaseholder and producer in the Bakken play of North Dakota and Montana, it is also the largest producer in the Anadarko Basin of Oklahoma. Continental is also reported to be the second largest leaseholder in Wyoming’s Powder River Basin.
Don’t look for it to leave Oklahoma City, at least that’s what Hamm vowed in an interview this week with The Oklahoman following the Monday announcement by Expand Energy.
“I made up my mind that I was born and raised in Oklahoma, I am an Oklahoman, and I’m going to continue to be an Oklahoman. And we’re not going anywhere,” he told the paper.
Hamm also admitted he was surprised when Devon acquired Coterra Energy of Houston and made the decision to relocate headquarters to the smaller firm’s offices in Texas.
So why did Expand not only announce a relocation of headquarters but also remove President and CEO Domenic Dell’ Osso Jr.?
Hamm has his theory even though Expand Energy leadership is not revealing any answer.
“But you had, I think, a CEO who wasn’t wanting to relocate and has elected, as I understand it, to not go with the company.”
Based on social media responses, readers liked what Hamm had to say.
“My Hamm is the Leader in the Oil Industry and always has been!”
“Harold Hamm has always bent “The Man” in the room.”
“Thank you Mr. Hamm. Keeping Oklahoma strong. In 5 years or less those companies will be moving back to Oklahoma”
“Great profitable company and civic leader”
“Way to Go Harold!!”
“Thank you Mr Hamm for keeping your nearly 1500 employees in OKC!”
“Shout out for Continental ! Thank you Mr Hamm”