JOURNAL ARTICLE

Hamm to Halt Drilling in Bakken Shale on Lower Crude Prices.

  • Published In: Bloomberg.com, 2026. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Wethe, David 3 of 3

Abstract

The article discusses Harold Hamm's decision to halt drilling operations in North Dakota's Bakken region for the first time in over 30 years due to low crude prices. Hamm, the founder of Continental Resources Inc., highlighted that current market conditions do not justify drilling, as the average well in the Bakken requires a minimum price of $58 per barrel to be profitable. The decline in global oil prices, coupled with rising drilling costs and a reduction in the number of active rigs across the U.S., indicates a challenging environment for shale operators. Despite this, Hamm remains open to resuming drilling if market conditions improve. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2026/01, pN.PAG
  • Document Type:Article
  • Subject Area:Social Sciences and Humanities
  • Publication Date:2026
  • Accession Number:190940406
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