Major Bakken Producer's President Quits - Continental Resources

The Bakken's second largest producer, Continental Resources, Inc., announced this week that President and COO W.F. "Rick" Bott, 54, has resigned to "pursue other opportunities." According to company officials, his duties will be absorbed by senior management. Bott joined Continental in 2012, and worked previously at Cairn India Ltd and in Devon Energy Corp's international division.

Continental CEO Harold G. Hamm said, “we are grateful for his professional contributions and wish Rick the very best.

During the second quarter of 2014, Continental Resources completed 224 gross (93 net) wells in the Bakken, and finished the reporting period with an inventory of approximately 84 gross operated (66 net) Bakken wells drilled, but not completed. Continental’s Bakken production totaled 108,573 boe/d (North Dakota: 94,702 boe/d, Montana: 13,871 boe/d) for the second quarter, which was an increase of 11% quarter-on-quarter and 23% year-over-year.

Read more: Continental Resources Bakken Production Up

Continental says it is ahead of its five year plan to triple production and proved reserves from 2012 to 2017 and maintains its leadership position as the largest oil producer in the Rockies,  Bakken Shale play and the SCOOP play combined.

Continental currently holds ~1.14-million net acres in the Bakken.