Filed under: CEO Insights
Continental Resources is proud to announce that we are giving our Message From The CEO a 2.0 upgrade. We are transitioning to Harold Hamm CEO Insights, a new resource for sharing the culture and philosophy behind the business news you’ve come to expect.
We had an excellent meeting with investors and equity analysts October 12 at Continental’s Investors Day, which we held at the historic Skirvin Hilton Hotel in downtown Oklahoma City.
Almost 100 invitees attended the event, and they had the unusual opportunity to get the Continental story first-hand from our geology, land, drilling and operations team-members, representing the Anadarko Woodford, Bakken and Niobrara plays. It was a long but very productive day – in the morning, we had presentations on each play with plenty of time for Q&A, then we had more time over lunch to discuss individually our plans for developing these three strategic plays, which we expect to drive Continental’s growth for the next decade and beyond.
While the theme of the event was “Drilling Down in the Anadarko Woodford,” we shared a thorough review of the geology, economics and growth prospects for each play, ending with a summary of our 2011 capital expenditure budget, our plan to grow production 30% in 2011, and our goal to triple Continental’s production and proved reserves by year-end 2014.
It was an exciting and gratifying day, and we concluded by taking two buses of analysts and investors on a tour of the Anadarko Woodford play, which really popped their eyes open as to the aerial extent of the overall play. They didn’t expect to see the amount of drilling and well-completion activity that has already ramped up just 90 miles west of Oklahoma City. It’s quite a sight.
In short, we showed them who Continental is, beyond the top executives who normally meet with Wall Street investors. They heard from long-term key hands like Neil Olesen and Ken Kerrihard, but also from some of our newer, younger people, like Ola Adisa, Andy Rihn and Matt Callaway. We even talked our sage reservoir expert Archie Taylor into getting up on stage to present, and he knocked it out of the park!
The most gratifying aspect of the event was the many investors and analysts who came up to me and other Continental people afterward to tell us what great insight they now have on who Continental is and how we operate. They loved the obvious shared commitment and excitement of the challenges that we face in achieving our goals.
One investor, Phil Meyer, told me, “Harold, every company talks about teams, but it’s clear that you guys really operate that way. This has been really, really impressive. It’s no wonder that Continental has been so successful.”
Yes, that’s who we are, and I was very proud to see the teams demonstrating this to our investors. As I told our investors, “I may be the largest investor, but I’m still an investor just like you. Today I wanted you to see why I’m so excited to be invested in Continental.”