Continental Resources (CLR) disclosed in February it was committing $95M to an unnamed oil...


Continental Resources (CLR) disclosed in February it was committing $95M to an unnamed oil pipeline, but it turns out the pipeline is a $300M project being developed by a partnership controlled by founder Harold Hamm and his family. Directors say the deal was fully vetted to avoid conflicts of interest, but investors are growing increasingly wary of close ties between energy companies and their executives.

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Comments (9)
  • Clayton Rulli
    , contributor
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    When will they learn investors don't approve of these sweetheart deals or anything with that possibility
    13 May 2013, 05:50 PM Reply Like
  • fmpmailinc@aol.com
    , contributor
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    where can I go to review the deal and be sure there is no CHK, SD , funny business going on
    13 May 2013, 08:05 PM Reply Like
  • coyote21
    , contributor
    Comments (64) | Send Message
     
    doesn't Harold own 68-70% of clr? and control over a million net acres of Leasehold in the Bakken/Three forks?

     

    My guess is if you think his 'dealings' may diminish your investment...

     

    it would be your loss if you sold... not his
    13 May 2013, 08:40 PM Reply Like
  • Marine85
    , contributor
    Comments (267) | Send Message
     
    I trust Harold Hamm.
    13 May 2013, 08:57 PM Reply Like
  • montenegro
    , contributor
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    I do not like it I am a share holder of CLR. I wouldn't be surprise if in the future we share holders have to go to court to protect our rights.The Board is in H.Hamm's packet.
    13 May 2013, 09:37 PM Reply Like
  • solojif
    , contributor
    Comments (133) | Send Message
     
    Better Harold then some hedge fund. Why would a man as rich as Harold Hamm and have a 70 percent stake in the company do anything to screw CLR. Would seem in his best interest to do what's right.
    13 May 2013, 10:09 PM Reply Like
  • ChuckXX
    , contributor
    Comments (1797) | Send Message
     
    It does seem a little odd that Harold would put himself in this postion. McClendon did the same kind of stuff. Why can't these guys learn. Harold is only worth around 6 Billion or so but its apparently not enough.
    14 May 2013, 08:18 AM Reply Like
  • Marine85
    , contributor
    Comments (267) | Send Message
     
    For a moment I forgot I was living in America.
    14 May 2013, 09:46 AM Reply Like
  • fmpmailinc@aol.com
    , contributor
    Comments (57) | Send Message
     
    I suppose it is a good deal for Harold and his family. Read a article in today's paper indicating everything was on the up and up with this particular transaction. However I did note that ONEOK was going to build a similar pipeline but did not find enough folks willing to sign longer term contracts in order to make it profitable for them. I just don't want to see any sweetheart deals done with Hiland to the determent of CLR and its shareholders. If Hiland Resources can provide services at a better value to CLR and their shareholders than anybody else offering the same services then more power to them. However, it is imperative that CLR senior mgt. and the BOD at CLR sign off on any and all of these deals as being non-conflicting with the interest of CLR and its shareholder owners. I'm Long CLR and so far am happy. But I was happy with CHK & SD a while back too and still remember how those Company's CEO's went out of control. Just want to be cautious
    14 May 2013, 12:24 PM Reply Like
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