Can Continental survive the new teacher pay raise tax?
Probably. Maybe they will drill a few more wells every year to make the same amount of money. Hamm says they do plan to expand drilling.
Oklahoma City-based Continental Resources posts $842 million fourth-quarter profit
OKLAHOMA CITY — Continental Resources Inc. generated a profit of $842 million in the fourth quarter, boosted by federal tax reform, the Oklahoma City oil and natural gas company said Wednesday.
Continental's profits consisted of $128 million from operations and almost $714 million in tax benefits, the company said. The operational gain was fueled by a 37 percent increase in production from the year-ago period.
"Continental's fourth-quarter performance was a fitting completion to a standout year," CEO Harold Hamm said in a statement. "As we made clear in our 2018 guidance announcement, we expect even stronger performance in 2018 with both significant production growth and robust free cash flow."