Continental Resources Announces Upcoming Organizational Changes
Continental Resources (NYSE: CLR) announced significant organizational changes, including the retirement of President and COO Jack Stark by late Spring 2022. He will transition to a part-time consulting role. Bill Berry will assume the role of President and CEO. Doug Lawler, previously President & CEO of Chesapeake Energy, has been appointed as Chief Operating Officer, effective February 1, 2022. The changes come as the company celebrates 55 years in the industry, emphasizing a focus on leadership continuity and operational excellence.
- Appointment of Doug Lawler as COO, bringing extensive industry experience from Chesapeake Energy.
- Leadership transition aims to maintain operational excellence and growth potential.
- Retirement of Jack Stark may create a leadership gap in the short term.
OKLAHOMA CITY, Jan. 18, 2022 /PRNewswire/ -- Continental Resources, Inc. (NYSE-CLR) today announced upcoming organizational changes.
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Jack Stark, the Company's President and Chief Operating Officer, has announced his intention to retire by late Spring 2022. Upon retirement, Jack will transition into a part-time consulting role as a senior advisor to the Company's Chief Executive Officer, Bill Berry, who will become the President and CEO. Jack joined the company in 1992 to lead the Company's exploration efforts and has served in various leadership roles over the last 30 years.
Bill Berry, CEO, stated, "Continental would not be the company it is today without Jack Stark. Jack has not only been instrumental in discovering and building the Company's world class assets; he has built a world class team and put the Company in a position for even greater success in the future. He has been an invaluable leader in the Company and advisor to me and will be deeply missed."
Harold Hamm, Continental's founder and Chairman of the Board of Directors, added, "Jack has been the best geologist I have had the pleasure of working with in my 55 years in this business. In addition, combined with his skill and leadership in this field, he has created a lasting legacy in the exploration team that he assembled and grew here at Continental. I am grateful for the many years we had during his career.
Additionally, Doug Lawler has been named Chief Operating Officer and Executive Vice President, effective February 1, 2022. Doug has spent over three decades in the oil and gas industry. He began his career with Kerr-McGee in 1988 and joined Anadarko Petroleum following its acquisition of Kerr-McGee in 2006. During his tenure at Anadarko, he served in numerous senior operational leadership positions. Most recently, Doug was President & CEO of Chesapeake Energy from 2013 to 2021. Doug earned his bachelor's degree in petroleum engineering from the Colorado School of Mines in 1988 and his MBA from Rice University in 2002.
Berry added, "I am excited to have Doug join the team. Doug gives us a tremendous opportunity to expand our leadership team. He is an accomplished leader in the industry, and his enthusiasm and 'can-do' approach to building a company through exploration and industry leading operations will serve the Company well. I am confident his extensive operational experience and leadership abilities will fit Continental's culture perfectly."
Jack Stark added, "What a tremendous honor it has been to work alongside Harold, one of the industry's icons, and so many other extremely talented individuals over the last 30 years. Together we built a great company that led the way to energy security for America and changed the global energy landscape forever. It has been a remarkable journey, and I will greatly miss working with the entire Continental team. Today, I am pleased to say that Continental is stronger than ever, and the true value of the Company's outstanding assets has only begun to be realized. The Company is in great hands with Bill at the helm, and I cannot say enough about the quality of our leadership team and our employees. They are second to none and united by Continental's unique culture that will continue to drive success, innovation and value for our shareholders for years to come. I look forward to working with Doug as he assumes this leadership role in the Company."
Doug Lawler stated, "I am thrilled for the opportunity to join the Continental team. Continental has a 55-year track record of industry leadership, innovation, and success, and I am immensely grateful to be a part of the Company's bright future. I look forward to collaborating with Jack Stark, whose expertise in exploration and outstanding contributions are well known throughout the energy industry."
About Continental Resources
Continental Resources (NYSE: CLR) is a top 10 independent oil producer in the U.S. and a leader in America's energy renaissance. Based in Oklahoma City, Continental is the largest leaseholder and the largest producer in the nation's premier oil field, the Bakken play of North Dakota and Montana. The Company also has significant positions in the SCOOP and STACK plays of the Anadarko Basin of Oklahoma and newly acquired positions in the Powder River Basin of Wyoming and Permian Basin of Texas. With a focus on the exploration and production of oil, Continental has unlocked the technology and resources vital to American energy independence and our nation's leadership in the new world oil market. In 2022, the Company will celebrate 55 years of operations. For more information, please visit www.CLR.com.
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SOURCE Continental Resources
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