- When one remembers there are CEOs of XOM, COP, CVX, and others, it is amazing to think that the CEO of a relatively small company (CLR) is the richest oil man in the US. Hamm is a self-made billionaire with a high-school diploma.
- When one sees those stones (shale), it's hard to believe they get any oil out of shale.
- The "Bakken" may hold eight (8) billion bbls of recoverable oil; easily twice "official" estimates.
- Oil at $50 is problematic. Bakken drillers are making money at $60/bbl.
- In five (5) years or less, US will be importing less than 50% of its oil.
- Many very strong comments about North Dakota.
- Says economy in North Dakota is due to the oil; doesn't water down commentary by getting off-point (agriculture, strong work ethic, banking industry, fiscal conservatism).
- Taking away tax incentives for oil industry: "It would be terrible."
- Independents like CLR produce 90% of American oil.
- Price of oil: range-bound between $75 and $90. It will take the economy to "get rolling" to get out of this range.
Wednesday, September 1, 2010
CLR and CNBC This Morning
Harold Hamm, CLR/CEO, on CNBC this morning.
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i think this is a good interview as Harold did not just boast about CLR, he talked about the great potential of the Bakken in ND.
ReplyDeleteI was unimpresssed with the interviewers from CNBC, they should know a lot more about the subject matter then they did.. You also have to wonder how much more info Harold had that he did ot share.. don