History of Continental Resources in Timeline

Continental Resources is an American oil and natural gas company based in Oklahoma City, founded in 1967 by Harold Hamm as Shelly Dean Oil Company. It rebranded as Continental Resources in 1990 and became known for its use of hydraulic fracturing and directional drilling to extract resources from low permeability formations. The company went public in 2007 but was taken private again in November 2022 through an acquisition by affiliates of Harold Hamm.

1967: Harold Hamm Founded Shelly Dean Oil Co.

In 1967, Harold Hamm founded Shelly Dean Oil Co., Continental's predecessor.

1967: Company founded as Shelly Dean Oil Company

In 1967, Harold Hamm founded Shelly Dean Oil Company, originally named after his two daughters.

1990: Shelly Dean re-branded as Continental Resources

In 1990, Shelly Dean Oil Company re-branded itself as Continental Resources.

1990: Company Renamed Continental Resources

In 1990, the company was renamed Continental Resources.

1995: Discovery of the Cedar Hills Field

In 1995, the company discovered what was later described as the Cedar Hills Field in North Dakota, the 7th largest onshore field in the lower 48 United States ranked by liquid proved reserves, and was the first to develop it exclusively through precision horizontal drilling.

2003: First wells drilled in the Bakken formation

In 2003, the company drilled its first wells in the Bakken formation.

2004: First commercially successful well in North Dakota Bakken

In 2004, the company completed the Robert Heuer 1-17R in Divide County, the 1st commercially successful well in the North Dakota Bakken to be both horizontally drilled and completed using hydraulic fracturing.

May 2007: Became a public company

In May 2007, Continental Resources became a public company.

2007: Became a public company

In 2007, the company became a public company via an initial public offering in which Harold Hamm sold approximately $300 million worth of his shares.

2008: First horizontal well completed in the Three Forks zone

In 2008, the company was the first to complete a horizontal well in the Three Forks zone.

2010: Introduced ECO-Pad® drilling technique

In 2010, Continental introduced the ECO-Pad® drilling technique, which involves drilling 4 wells from 1 pad. This reduced the cost of drilling and increased production output.

2012: Headquarters moved to Oklahoma City

In 2012, the company moved its headquarters from Enid, Oklahoma to Oklahoma City.

2016: Sold assets in North Dakota and Montana

In 2016, the company sold assets in North Dakota and Montana for $222 million.

2017: Sold acres in the Arkoma Basin

In 2017, the company sold 26,000 acres in the Arkoma Basin for $68 million.

2021: Acquired acres in the Permian Basin

In 2021, the company acquired 92,000 net leasehold acres and 50,000 net royalty acres in the Permian Basin from Pioneer Natural Resources for $3.25 billion.