Harold Hamm has launched a bid to take Continental Resources private
Hamm aims to take Continental back to the future
Founder and chairman sees value in privacy
Billionaire Harold Hamm launched a bid in June to acquire the shares in US independent Continental Resources that he does not own already. If the bid is successful, it would turn the company back into a private one, giving it—in Hamm’s view—greater operating freedom. The Hamm family currently owns c. 83pc of Continental’s common stock. Under the proposal, a new entity acting on behalf of the family would acquire the remainder of the stock for $70 per share. The bid values Continental at $25.4bn and represents a 9pc premium to the closing price of the stock on 13 June. In a letter to the company, Hamm also notes it represents an 11pc premium to the stock’s average price in the 30 days up to t
Also in this section
14 March 2025
Gas production slumped to an eight-year low in 2024, but new discoveries and partnership with Cyprus paint a more positive outlook
13 March 2025
Gas will become a more important part of the energy mix longer-term, raising the alarm for much-need investment as supply struggles to keep up with demand
13 March 2025
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
12 March 2025
Petronas-Eni eyes joint venture to prioritise key gas developments, with huge opportunities for growth in Indonesia and a steady Malaysia portfolio
