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  1. #101
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    Default Re: Continental Resources Business Practices

    I am sure she got paid fairly for her work with the company. What she is due as the spouse is not based on her work. It is assumed she was already compensated for those contributions towards the company's growth. In fact, it might even hurt her cause.

  2. #102

    Default Re: Continental Resources Business Practices

    Quote Originally Posted by Rover View Post
    I am sure she got paid fairly for her work with the company. What she is due as the spouse is not based on her work. It is assumed she was already compensated for those contributions towards the company's growth. In fact, it might even hurt her cause.
    Couldn't the same be said of Harold?

  3. #103

    Default Re: Continental Resources Business Practices

    Quote Originally Posted by zookeeper View Post
    Couldn't the same be said of Harold?
    No, because he actually owned the shares before the company's growth and before the marriage.

    I'm sure that my opinion is at odds with the law, in which case the law is ridiculous and wrong, but it is my not so humble opinion that there is ZERO argument to be made for her receiving any percentage of the *original* stock owned by Harold, even in the absence of a prenup. It is one thing if he liquidated, borrowed against, or otherwise made use of any stock as a monetary instrument during the course of their marriage, but the amount of shares which have never been touched ought to remain his under all circumstances. Any stocks he purchased, borrowed against or made use of as monetary instruments during the marriage ought to be divided evenly.

  4. #104
    Join Date
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    Default Re: Continental Resources Business Practices

    Quote Originally Posted by zookeeper View Post
    Couldn't the same be said of Harold?
    Yes on earnings. No on the right to the equity.

  5. #105

    Default Re: Continental Resources Business Practices



    A video piece from ABC News on Saturday night. Sue Ann Hamm could become the wealthiest woman in the United States - richer than Oprah Winfrey.

  6. #106

    Default Re: Continental Resources Business Practices

    Interesting, that video says she "might win $3B". If that's 100% CLR shares (which I imagine CLR shares would count for 97.5%+) then that equates to ~20% of the companies shares, knocking Hamm from 68% to ~48%.

    If the *most* she can win is $3B then I don't think OKC nor CLR have anything to worry about. 48% is still a gargantuan holding in a public company. No other one entity is likely to approach even a quarter of the holding that Hamm would own, other than Sue Ann, but even she wouldn't be at half of Hamm's amount.

  7. #107

    Default Re: Continental Resources Business Practices

    Its been interesting following Continental as a company, they are really reaping the benefits of being sort of the first mover into the Bakken, and with that they've seen tremendous growth over the last 5 years or so as the Bakken has rapidly grown to account for almost 10 % of all the oil produced in the US. Its really an under the radar story...Moving the HQ to OKC is a big part of it too.

    But on another note, I've seen way too much tabloid level media in the last week about this company, of course its about the divorce/$$$/TheNewOprah, blah, blah, blah. Just sickening what gets covered...

  8. #108

    Default Re: Continental Resources Business Practices

    Continental Resources to sell $1B in notes - Yahoo! Finance
    OKLAHOMA CITY (AP) -- Continental Resources Inc. said Tuesday that it plans to sell $1 billion of new senior notes in a private offering.

    The Oklahoma City-based oil and gas producer said it plans to use the net proceeds from the offering to repay some of the debt under its revolving credit facility and for general corporate purposes.

  9. #109

    Default Re: Continental Resources Business Practices

    Quote Originally Posted by sidburgess View Post
    Doesn't this belong in the Mystery Tower thread? ;-)
    Oh, Sid. Are you going to be crushed when a new tower doesn't happen?

  10. #110

    Default Re: Continental Resources Business Practices

    Quote Originally Posted by sidburgess View Post
    I'm not worried.
    Nor am I.




  11. #111

    Default Re: Continental Resources Business Practices

    Any word on how long the divorce settlement might take?

  12. Default Re: Continental Resources Business Practices

    Quote Originally Posted by OnlyOne View Post
    Any word on how long the divorce settlement might take?
    They've been working at it since 1998.

  13. #113

    Default Re: Continental Resources Business Practices

    Quote Originally Posted by ou48A View Post
    Continental Resources to sell $1B in notes - Yahoo! Finance
    OKLAHOMA CITY (AP) -- Continental Resources Inc. said Tuesday that it plans to sell $1 billion of new senior notes in a private offering.

    The Oklahoma City-based oil and gas producer said it plans to use the net proceeds from the offering to repay some of the debt under its revolving credit facility and for general corporate purposes.

    There are now reports that the figure is actually 1.5 billion and not the 1 billion that was previously posted.

    Continental Resources Announces Pricing of $1.5 Billion Offering of New Senior Notes due 2023 - Yahoo! Finance

    Continental Resources Announces Pricing of $1.5 Billion Offering of New Senior Notes due 2023

  14. #114

    Default Re: Continental Resources Business Practices

    Not sure if I agree with it, but an interesting take on CLR and the Bakken:

    Bakken Boom Destined To Fizzle? - Seeking Alpha

  15. #115

    Default Re: Continental Resources Business Practices

    Quote Originally Posted by tillyato View Post
    Not sure if I agree with it, but an interesting take on CLR and the Bakken:

    Bakken Boom Destined To Fizzle? - Seeking Alpha
    60% of Continental's acreage is junk? Hmm. Interesting, indeed.

  16. #116

    Default Re: Continental Resources Business Practices

    Quote Originally Posted by tillyato View Post
    Not sure if I agree with it, but an interesting take on CLR and the Bakken:

    Bakken Boom Destined To Fizzle? - Seeking Alpha
    The author says “There is very little gas gathering in the Bakken and little profit in it compared to oil sales.”
    Gas gathering capacity is growing…. but we have known about this problem for very long time. Flaring is being reduced but many of the Bakken wells do not produce that much NG.
    If the CLR “outlook is fragile” then virtually all other similar companies are fragile too IMO.
    The author says “I'm not going to comment on Continental's new Oklahoma Woodford shale program.”
    But to be fair and honest an analyst would need to look at CLR’s new Oklahoma Woodford shale program.

  17. #117

    Default Re: Continental Resources Business Practices

    Quote Originally Posted by ou48A View Post
    The author says “There is very little gas gathering in the Bakken and little profit in it compared to oil sales.”
    Gas gathering capacity is growing…. but we have known about this problem for very long time. Flaring is being reduced but many of the Bakken wells do not produce that much NG.
    If the CLR “outlook is fragile” then virtually all other similar companies are fragile too IMO.
    The author says “I'm not going to comment on Continental's new Oklahoma Woodford shale program.”
    But to be fair and honest an analyst would need to look at CLR’s new Oklahoma Woodford shale program.
    That's right and when CLR builds that new tower downtown that author will have to eat his words.

  18. Default Re: Continental Resources Business Practices

    I read a lot of the 'Seeking Alpha' articles on Mreit's. I notice that there are always comments disputing the accuracy of the articles, and the authors come back in and comment with corrections to the articles....not sure how reliable they are.

    On further edit, they have removed the article.....

  19. #119

    Default Re: Continental Resources Business Practices

    More good new for Continental.

    North Dakota, Montana's oil potential revised even higher | News OK

    The new oil number is 49 times more than the geological survey's 1995 forecast of 151 million barrels of recoverable oil. By 2008, the geological survey revised its estimate to 3.7 billion barrels.
    The geological survey attributed much of its most recent increase to efforts by Continental Resources and other producers to recover oil from the Three Forks Formation, which lies beneath the Bakken in the Williston Basin of North Dakota and Montana.
    Continental Resources was one of the first developers in the area and now has a stake in about 20 percent of the wells drilled so far. The company has led the effort to develop the deeper rock layers in the area.
    Continental CEO Harold Hamm said he still thinks the government estimates are too low, but that he is pleased with the revision.

  20. #120

    Default Re: Continental Resources Business Practices

    Quote Originally Posted by ljbab728 View Post

    This new is going to make CLR an even stronger take over target.

  21. #121

    Default Re: Continental Resources Business Practices

    Quote Originally Posted by ou48A View Post
    This new is going to make CLR an even stronger take over target.
    harold hamm has majority control ... they can't be taken over without him deciding to sell ..

  22. #122

    Default Re: Continental Resources Business Practices

    Quote Originally Posted by BoulderSooner View Post
    harold hamm has majority control ... they can't be taken over without him deciding to sell ..
    I’m aware of that fact and I should have said buy out candidate rather than take over target.
    As HH grows older and the more valuable his company becomes a major with reserve issue may throw enough money his way to make him take the opportunity.
    I suspect Hamm still has several causes in mind that he would like to help with his money.

  23. Default Re: Continental Resources Business Practices

    Quote Originally Posted by ou48A View Post
    I’m aware of that fact and I should have said buy out candidate rather than take over target.
    As HH grows older and the more valuable his company becomes a major with reserve issue may throw enough money his way to make him take the opportunity.
    I suspect Hamm still has several causes in mind that he would like to help with his money.
    He's got kids too.

  24. #124

    Default Re: Continental Resources Business Practices

    Why would you sell the company you built in the middle of its rise to prominence?

  25. #125

    Default Re: Continental Resources Business Practices

    Quote Originally Posted by Teo9969 View Post
    Why would you sell the company you built in the middle of its rise to prominence?

    That’s just it, with this report the prominence (selling price) may not ever be greater than it is now or for the next few years.
    HH would know his prospects better than anyone.

    But not everyone is purely ego driven.
    There are personal reasons why he might sell such as heath, a divorce and how he might want to help his community with the money. There may even be other business ventures he would be interested in?

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