Harold Hamm, right, chairman and CEO of Continental Resources Inc., spoke at length with Hart Energy's Paul Hart, editor in chief of Midstream Business, and Leslie Haines (not pictured), executive editor at large of Oil and Gas Investor. (Source: Hart Energy)
Sales abroad of crude oil, natural gas and petroleum products have reached more than 7 million barrels of oil equivalent per day (MMboe/d), representing a new industry for the U.S., according to Harold Hamm, who heads one of the nation’s largest independent oil and gas producers.
Crude oil exports alone may increase to 4 MMbbl/d by 2022, according to recent remarks by Enterprise Products Partners LP, as the world demands more light sweet crude. China has gone from taking just one cargo of under 1 MMbbl in the first eight months of 2016 to buying about 115,000 bbl/d from the U.S. so far this year, according to Reuters.