Self-made billionaire oilman invites Elizabeth Warren on tour of shale sites in her home state

By Rachel Adams-Heard on 12/20/2019

HOUSTON (Bloomberg) - Billionaire wildcatter Harold Hamm invited Elizabeth Warren to the Oklahoma oil patch as the U.S. Democratic presidential candidate proposes a ban on fracing if elected.

In a letter dated Dec. 18, Hamm said he wanted Warren to tour “the economic engine that is our industry” while she visits her home state of Oklahoma for a town hall meeting over the weekend.

“Our domestic energy resurgence is making America an energy and economic superpower,” Hamm wrote. “We are keeping hundreds of billions of dollars out of the hands of rogue regimes and corrupt kleptocracies.”

A representative for Warren’s campaign didn’t immediately respond to a request for comment. A spokeswoman for Continental Resources Inc., the oil company founded by Hamm, said the Massachusetts senator hasn’t responded.

“Mr. Hamm is eagerly awaiting her reply,” Continental spokeswoman Kristin Thomas said in an email.

An outright ban on hydraulic fracturing would likely meet strong legal challenges, but several oil and gas producers have already discussed the potential impact with investors.

In recent months, independent drillers including Concho Resources, EOG Resources and Matador Resources have disclosed how much of their total acreage position is on federal lands, which could be the first target of an anti-fracing president.

While in office, President Donald Trump has regularly sought out Hamm’s expertise in the energy industry. The two have repeatedly met to promote issues such as crude exports.

Hamm, 74, is stepping down as chief executive officer of Continental at the start of the new year to serve as executive chairman.

Related News ///


Comments ///


{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}