MARIA: WELCOME BACK.
OIL PRICES THIS MORNING, ARE
FRACTIONALLY MOVING, THE LEVEL
OF CRUDE RIGHT NOW 91.94 A
BARREL, DOWN ABOUT 1%, BRENT
CRUDE AT 97.47 DOWN 1 AND 2/3
TOPPED 100 A BARREL YESTERDAY
FIRST TIME SINCE 2014
FOLLOWING RUSSIA FULL SCALE
INVASION OF UKRAINE JOINING ME
HAROLD HAMM GREAT TO HAVE YOU
THIS MORNING THANKS O SO MUCH
FIRST YOUR ASSESSMENT OF THE
SITUATION IN UKRAINE.
AND GET YOUR TAKE, ON WHAT
THAT MEANS, IN TERMS OF -- OIL
SUPPLIES, DOES IT IMPACT
CONTINENTAL IN ANY WAY.
>> IS TO THANK YOU,
MARIA, GOOD TO BE WITH YOU.
WE ARE SEEING PRICES,
NORMALIZE, I THINK YESTERDAY
WE SAW PREMIUM PRICES
OBVIOUSLY, IN -- U.S. PRICE,
FTI
AND BRENT GOING AWAY WE ARE
BACK TO NORMAL PRIZE THAT IT
WAS 92 DOLLARS BEFORE THIS
STARTED VERY YOU DISTURBING I
CAN UNDERSTAND, THE REACTION
IN THE MARKETS YESTERDAY,
STOCK MARKET AND IT FELL, OIL
PRICES WENT UP.
WHEN WAS LAST TIME YOU SAW
INVASION LIKE THIS?
THIS IS THIS IS -- VERY
DISTURBING.
MARIA: YEAH, I I MEAN WE ARE
GETTING BREAKING NEWS RIGHT
NOW THAT EUROPEAN UNION IS
PLANNING TO HIT VLADIMIR PUTIN
AND MINISTER LAVROV WITH
SANCTIONS, ALTHOUGH PRESIDENT
BIDEN SPARED RUSH’S CRUCIALLY
ENERGY SANCTIONS TUCKED IN
BOTTOM IS A GENERAL LINES
ALLOWING RUSSIAN ENERGY
SUPPLIES BOUGHT AND SOLD U.S.
IMPORTING OIL FROM RUSSIA,
AND, OF COURSE, THIS MEANS
RUSSIA’S MAIN SOURCE OF INCOME
REMAINS IN TACK BIDEN
SANCTIONED NORD STREAM 2
PIPELINE DOESN’T MAKE
DIFFERENCE TO PUTIN BECAUSE
ALL OTHER PIPELINES ARE OPEN
IN THE REGION, WHAT ARE YOUR
THOUGHTS ON U.S.’S RESPONSE TO
THE UKRAINE INVASION.
>> WELL VERY CERTAINLY, A LOT
TO THINK ABOUT IN THE ENTIRE
POLICY UTHES ENERGY POLICY
RIGHT NOW.
YOU KNOW.
WHEN OUR PRESIDENT THINKS
ABOUT SUPPLY, IMMEDIATELY RUNS
OFF TALKS TO SAUDI ARABIA,
INSTEAD OF EVEN THINKING ABOUT
DOING ANYTHING ABOUT THE
FAILED ENERGY POLICY THAT HE
PUT IN PLACE HERE IN U.S.
SO I WANT TO CALL ON ON THE
PRESIDENT AND THIS
ADMINISTRATION, TODAY, TO, YOU
KNOW, TALK TO OUR OWN
PRODUCERS, IN THIS COUNTRY,
ABOUT WHAT THEY CAN CAN DO TO
POLICY HERE POUT IN A
MORATORIUM ON FEDERAL
PERMITTING ALL FEDERAL LANDS
ALSO MORATORIUM ON LEASING
FEDERAL LAND, THIS IS KILLING
-- WE HAD ENERGY INDEPENDENCE
THIS COUNTRY, I MEAN
EVERYTHING ABOUT ENERGY POLICY
IS VERY IS NOT RIGHT.
ALSO, CALL ON HIM TO PULL BACK
ON ALL THESE HARMFUL
REGULATIONS PROPOSING TODAY
THIS IS WE ARE SEEING A
RAMIFICATION OF ENERGY POLICY
HERE IN U.S., AND
INTERNATIONALLY, SO, IF -- A
FATAL POLICY, CERTAINLY, YOU
ARE RIGHT THAT HAVE ALL
CONCERNED THAT YOU HAVE ON IT.
MARIA: BUT HOW -- IT IS NOT
JUST THE BAN ON FEDERAL LANDS,
AND THE SHUTTING DOWN XL
PIPELINE IT IS PRIORITY OF
CLIMATE CHANGED JOE BIDEN
WANTS OVERSEER OF ALL BANKS
SHE SAID SHE DOESN’T WANT
BANKS LENDING TO FOSSIL FUEL
COMPANIES WE LEARNED THIS WEEK
BLACKSTONE GROUP WILL NO
LONGER FUND OIL ANDGAS
EXPLORATION AN REGARD TO POINT
ONE OF THE BIGGEST BUSINESSES
BLACKSTONE SAYS WILL NO LONGER
BACK PROJECTS THAT EXCOMPLOER
OR PRODUCE OIL AND BASS WHAT
DOES THAT MEAN TO A COMPANY
LIKE CONTINENTAL RESOURCES,
FOR EXAMPLE,.
>> TO A CAPITAL THAT IS
NECESSARY TO BE PUT OUT IN
THIS INDUSTRY, AND, FURTHER
THE BANK ONNING ONE SIDE OF
THAT, THE MONEY IF YOU DO YOU
FIND OUT THAT THEY’VE BEEN UP
THERE INVESTING PUTTING MONEY
INTO CAPITAL PROJECTS, SO YOU
HAVE TO FOLLOW THE MONEY
SOMEWHAT MARIA.
BUT IT IS THE WRONG THING TO
THINK ABOUT WRONG THING TO DO.
CERTAINLY.
SO, YES, THERE IS LOT TO BE
CONCERNED ABOUT, ALSO, ENERGY,
JOHN KERRY COMMENTS BE
EMISSIONS WAR GOING ON THERE I
THINK LAST THING ON
UKRAINIAN’S MIND AS THEY RUN
FOR SAFETY ABOUT EMISSIONS
HAPPENING IN THAT COUNTRY
TODAY THERE IS A LOT WRONG
WITH POLICIES OF THIS
ADMINISTRATION.
BUT, YOU KNOW.
CERTAINLY THERE IS -- TO
TALK ABOUT THEY NEED TO COME
TO THE TABLE COME UP WITH SOME
VERY GOOD ENERGY POLICY.
MARIA: WHAT ARE THE
PRIORITIES AT CONTINENTAL IN
TERMS OF CAPEX SPENDING TODAY?
>> OUR PRIORITIES WE HAVE TO
DO WITH A WHAT MARKET WANTS WE
ARE A PUBLIC COMPANY.
CERTAINLY, IF YOU RAISE YOUR
CAPEX TOO MUCH YOU ARE GOING
TO GET PUNISHED, YOU KNOW,
RECENT QUARTER WE ANNOUNCED
2022 BUDGET, ABOUT 15%, AND
FROM 2021 EVEN WITH PROPERTIES
THAT NEW PROPERTIES WE’VE
ACQUIRED, THAT WE HAVE, WE
WERE PUNISHED FOR IT.
SO WE HAVE TO BE RESPONSIVE TO
THE MARKET AND UNDERSTAND ALSO
ALL FORCES THAT APPLY TO US,
AND CERTAINLY, WE ARE DOING
ALL WE CAN, RIGHT NOW, WITH
YOU KNOW ALL THE ELEMENTS THAT
WE HAVE TO WORK UNDER ALL
FUNDAMENTALS.
AND.
MARIA: A YEAH.
>> AND -- DO EVERYTHING WE CAN
AT THIS POINT
>> WELL OBVIOUSLY, OIL PRICES
ARE ELEVATED LEVELS BUT JOE
BIDEN IS SHIFTING THE BLAME,
ON TO OIL COMPANIES, HERE IS
WHAT HE SAID YESTERDAY
ADDRESSING BIG OIL WATCH THIS.
>> THE AMERICAN OIL AND GAS
COMPANIES SHOULD NOT SHOULD
NOT EXPLOIT THIS MOMENT TO
HIKE PRICES TO RAISE PROFITS.
OUR SANCTIONS PACKAGE,
SPECIFICALLY DESIGNED TO ALLOW
ENERGY PAYMENTS TO CONTINUE.
WE ARE CLOSELY MONITORING
ENERGY SUPPLIES FOR ANY
DISRUPTION.
MARIA: HAROLD WHAT ABOUT THAT
CAN OIL COMPANIES
BASICALLY EXPLOIT THIS A
MOMENT AND SEND PRICES HIGHER?
>> MARIA, I WILL TELL YOU THE
DAY THERE IS NOT ONE AMERICAN,
I DON’T BELIEVE IN THIS
COUNTRY NOT ONE THAT DOESN’T
UNDERSTAND WHAT HAS HAPPENED
WITH SUPPLY IN AMERICA.
HAS BEEN CURTAILED, A FAILURE
OF THIS ADMINISTRATION THAT
THEY’VE -- DRAWN BACK SUPPLIES
IN THIS COUNTRY, INCREASED
PRICES THAT AT THEIR FEET I
PREDICTED YOU KNOW BEFORE,
THIS ADMINISTRATION GOT VERY
FAR DOWN THE ROAD, BACK IN
2020 THAT WE WOULD SEE 6
DOLLAR GAS IN THIS COUNTRY IF
THEY CONTINUED POLICIES, MAN
WE ARE CLOSE TO IT SOME PLACE
WE’VE GOT OVER SIX DOLLARS A
GALLON, THE CHICKENS WILL COME
BACK TO ROOST IT IS US TIME TO
CHANGE POLICIES I AM CALLING
THEM OUT TO DO THAT VERY SAME
THING, CHANGE THOSE POLICIES,
THAT HAVE GOTTEN US HERE WITH
SUPPLY IN THIS COUNTRY.
MARIA: BUT DO YOU THINK THIS
IS PARTLY INTENTIONAL THEY
WANT TO BASICALLY CHOKE OUT
FOSSIL FUELS?
SO THE MORE EXPENSIVE IT GETS
IS THAT GOING TO TRIGGER
BEHAVIOR ON THE PART OF
INDIVIDUALS AND CORPORATIONS
TO GO GREINER?
>> YOU HIT NAIL RIGHT ON HEAD
MARIA.
THAT IS EXACTLY WHAT THEIR
INTENTION WAS.
BUT THIS IS AN EVOLUTION, THAT
WE’RE TALKING ABOUT TAKES A
LONG TIME.
AND CERTAINLY, YOU CAN’T GET
THE CART AROUND THE HORSE WE
ARE GOING TO SEE DEMAND FOR
FOSSIL FUEL FOR ENERGY OFF OFF
AND ON TIMES I UNDERSTAND THE
NEED TO DEAL WITH CLIMATE, YOU
KNOW, YOU CAN’T -- CONTINUE TO
BUILD ALL THESE COAL-FIRED
GENERATION PLANTS AND RUSSIA
AND CHINA, INDIA, AND -- THE
COUNTRY, CLIMATE.
ANYWAY THAT IS THE BIGGEST
PROBLEM.
WITH THE WHOLE THING.
MARIA: ALL RIGHT HAROLD WE
LEAVE IT THERE TO HAVE YOU
THIS MORNING THANKS SO MUCH
HAROL HAMM FOR JOINING US WE