Continental Resources Inc. is bringing in a new president and chief operating officer to help shepherd its growth.
Industry veteran Rick Bott will step into those roles next month with the Oklahoma City-based oil company, which has been growing exponentially — thanks to its surging production.
CEO Harold Hamm said Bott's experience in finding oil is well suited to Continental.
“As we grow the company and add shareholder value, we continue to build out a world-class management team,” said CEO Harold Hamm.
Bott, who most recently had been executive director and chief operating officer of Cairn India Limited, will start as Continental's president on June 4. He also is a former Devon Energy Corp. executive, and has more than 25 years of experience in the oil and natural gas industry.
“We are thrilled to round out our executive team with someone of Rick Bott's caliber,” Hamm said. “He is a geologist who shares my passion for oil exploration. His extensive experience will enable Continental to deliver on key company objectives.
Cairn India nearly tripled its oil production to 175,000 barrels of oil equivalent a day under Bott's leadership.
“It has been my good fortune to have worked in a number of companies that have capitalized on the strength of a talented work force, built world-class assets and applied innovative technologies and visionary leadership,” Bott said. “I see these same factors coming together at Continental Resources, and I feel privileged to join this cohesive organization with solid financials and am excited about helping to achieve real growth and long-term shareholder value.”
Current President Jeff Hume will assume the role of vice chairman of strategic growth initiatives.
He said Bott's hiring will allow him to focus on his strengths: economics and working with investors.
Hamm praised Hume for his integral role in Continental's success.
“In his new role, he will provide valuable leadership on issues that have increasing impact on our success as the company rapidly grows in size and scope,” Hamm said.