Harold Hamm, CEO of Continental Resources, fields questions at a Hart Energy DUG Bakken conference. He has shifted his company's emphasis from oil to natural gas. (Source: Hart Energy)
Harold Hamm, one of the pioneers of the U.S. shale oil boom, is stepping up his investment in gas in an attempt to benefit from an expected surge in U.S. exports of LNG.
Hamm, a close ally of and adviser to President Donald Trump, is also positioning himself as an advocate of efforts to curb greenhouse gas emissions, highlighting the advantages of substituting gas for coal in power generation in reducing the threat of global warming.
Although Hamm hit big as an oil producer, particularly in the Bakken formation of North Dakota, the share of gas in Continental’s output has been rising, from 37% in first-quarter 2016 to 44% in the equivalent period of this year. Continental is running nine rigs drilling wells primarily for gas production, and has about 10 primarily for oil.