NUMBERS BETTER THAN EXPECTED
AS WE HEARD FROM CHERYL, THE
WHITE HOUSE OFFICIALLY ON
PRESIDENT TRUMP FORMALLY
ACCEPTING REPUBLICAN
NOMINATION LATTER NIGHT VOWING
TO UNITE THE COUNTRY IN SECOND
TERM.
>> IN A FEW TERM AS PRESIDENT
WE WILL BEGIN BUILD THE
GREATEST ECONOMY IN HISTORY WE
WILL DEFEND AMERICA AGAINST
ALL THREATS, AND PROTECT
AMERICA AGAINST ALL DANGERS.
WE WILL LEAD AMERICA INTO NEW
I FRONTIERS OF -- JOE BIDEN
MAY CLAIM HE IS AN ALLY OF THE
LIGHT, BUT WHEN IT COMES TO
HIS AGENDA, BIDEN WANTS TO
KEEP US HE COMPLETELY IN THE
DARK.
MARIA:  A JOINING ME RIGHT NOW
CONFIDENTIAL RESOURCES
EXECUTIVE CHAIRMAN HAROELD
HAMM GREAT TO HAVE YOU THIS
MORNING THANKS FOR BEING HERE
YOUR REACTION TO WHAT YOU
HEARD THIS WEEK, AND THE
IMPACT, FOR EXAMPLE, ON THE
ENERGY INDUSTRY.
LET’S START THERE, WHICH IS,
OF COURSE, WHAT YOU DO.
DID YOU GET ANYTHING IN TERMS
OF WHAT YOU MIGHT SEE
DIFFERENTLY IN YOUR BUSINESS?
>> THE WELL --
>> SECOND TERM?
>> YES, THE PRESIDENT SHOULD
GET A SECOND TERM, THE
PRESIDENT INTERVENED BACK WHEN
SAUDIS RUSSIANS WERE BASICALLY
FIGHTING, AND CAUSING THE
BOTTOM TO FALL OUT OF THE
MARKET, AND HE INTERVENED
BROUGHT STABILITY THAT IS WHY
WE HAVE, YOU KNOW, PRICES LOW
DUE TO DEMAND BEING ALLOW
RIGHT NOW.
BUT IT IS STABLE.
SO, PEOPLE ARE -- PUTTING MIND
BACK TO WORK, AND WHAT -- WHAT
IS TO COME IN THE FUTURE.
WE HAVE AN ABUNDANCE OF OIL
AND GAS THIS COUNTRY, AND --
AND AS A RESULT, CONSUMER
PRICES ARE LOW, AND EVERYBODY
IS GETTING A BREAK.
YOU GOT -- LESS THAN $2
GASOLINE FOR MUCH OF THE
COUNTRY, AND NATURAL GAS IS IN
ABUNDANCE, CLEANED UP AIR IN
THE COUNTRY, WE HAVE CLEANEST
AIR IN THE WORLD.
AND IN AMERICA TODAY, SO, I
FEEL GOOD ABOUT WHERE WE ARE
AT.
ENERGY INDEPENDENCE MEANT SO
MUCH TO AMERICA.
HE HAS A FREE HAND TO WORK
ISSUE AS WE’VE SEEN IN THE
MIDDLE EAST, AND BRING
STABILITY IN THE MIDDLE EAST
AS WELL.
>> HE HAS TOLD ME THAT HE
WANTS TO CONTINUE THE
DEREGULATION PERHAPS WE SEE
MORE DEREGULATION IN ENERGY
STAYS I WANT YOUR TAKE ON THAT
I WANT YOU TO LOOK AT THIS
MARKET TALKING ABOUT 135
RECORD HIGHS UNDER TRUMP FOR
THE S&P 500.
AND I KEEP SAYING THIS I FEEL
LIKE THIS IS THE ELEPHANT IN
THE ROOM I DON’T THINK THE
MARKET WOULD BE TRADING WHERE
IT IS TODAY AND AGAIN RALLYING
THIS MORNING UP ANOTHER 155
POINTS IFTH THE MARKET THOUGHT
WE WERE GOING TO SEE A CHANGE
IN POLICY,S IN MY VIEW PART OF
THIS GAIN FOR THE MARKETS HAS
TO DO WITH INVESTORS BELIEVING
POLICIES WILL NOT CHANGE.
TAX CUTS DEREGULATION, WILL BE
IN PLACE THAT PRESIDENT TRUMP
WILL WIN DO YOU AGREE WITH
THAT?
A LOT OF PEOPLE LIKE TO COME
UP WITH DIFFERENT REASONS
WHY MARKET IS TRADING HIGHER
IN MY VIEW BECAUSE WALL STREET
RIGHT NOW -- COULD IT CHANGE
-- BUT RIGHT NOW BETH ON TRUMP
PRESIDENCY POLICY HE PUT IN
PLACE CONTINUING.
>> WELL THIS.
THE BIGGEST THING THAT
HAPPENED,, YOU KNOW, REVERSAL
OF OBAMA POLICIES, THAT IS
HUGE ENERGY PLAYED A GOOD ROLE
IN THAT, AND O HE YOU KNOW,
TRUMP’S POLICIES HAVE BEEN
EVERYTHING, TAX CUT HAS WORKED
GREAT.
FOR ALL AMERICANS, ACROSS
ENTIRE SPECTRUM PUTTING PEOPLE
TO WORK WHAT IT IS ALL ABOUT
UNEMPLOYMENT, MOST PEOPLE BACK
IN THE WORKPLACE, WHO WOULD
HAVE THOUGHT THOSE NUMBERS
COULD HAVE BEEN WHAT THEY
WERE?
THAT IS BIG NEWS.
I THINK, PEOPLE ARE BETTING
THAT, YOU KNOW, THAT TRUMP
ABOUT REELECTED AND CERTAINLY
THAT SHOULD BE THE CASE.
>> OF COURSE, YOU ALSO HAVE TO
ATTRIBUTE THE FEDERAL RESERVE
THIS IDEA THAT THEY ARE GOING
TO CHANGE THEIR APPROACH TO
INFLATION.
THAT WILL KEEP RECORD LOW
INTEREST RATES WHERE THEY ARE.
MEANING NOT A LOT OF
ALTERNATIVE IF YOU ARE LOOKING
FOR YIELD LET ME GET YOUR TAKE
ON LAURA AND THE HURRICANES
PATH OF DESTRUCTION HAROLD THE
STORM NOW TROPICAL DEPRESSION
BLAMED FOR AT LEAST SIX DEATHS
WHAT IS THE HURRICANE LAURA
TROPICAL STORM LAURA’S IMPACT
ON ENERGY SECTOR FROM YOUR
STANDPOINT?
>> WELL IT ALWAYS AFFECTS US
ANY TIME IT COMES IN ROADS
SHUT DOWN IN THE GULF
EVACUATED, AND THAT ALWAYS
HAPPENS THE OTHER BIG IMPACT
IS REFINERIES HAVE TO SHOT
THOSE IN MAKE SURE NO DAMAGE
THERE, AND SO, THAT THAT
IMPACTS OUR INDUSTRY FOR A
SHORT TERM.
BUT GAS PRICES ARE UP 2.70
THIS MORNING A RESULT OF ALL
THE SHUT-INS IN GULF OF
MEXICO, SO, IT DOES IMPACT
US,, YOU KNOW, FOR HARD-HIT AS
THOSE PLACES WERE, ONE WONDER
DEATH TOLL THE WASN’T MUCH
HIGHER THAN THAT.
>> WHEN OIL PRICES WERE
FAILING LIKE A ROCK, LAST
YEAR, THERE WAS A LOT OF WORRY
THAT THE SHALE INDUSTRY WOULD
BE BROKEN, HAROLD.
WHERE ARE WE IN THAT?
YOU KNOW WE SAW A NUMBER OF
SHALE COMPANIES UNABLE TO
HANDLE IT ACTUALLY HAD TO
DECLARE BANKRUPTCY CLOSE SHOP
WHAT IS YOUR TAKE WHERE WE ARE
WITH SHALE INDUSTRY NOW AT
LEVELS WE ARE IN IN THE $40
RANGE.
>> WE ARE GOING TO SEE
RESTRUCTURED INDUSTRY COMING
OUT OF THIS.
THE COMPANIES THAT ARE
STRUGGLING CONTINENTAL OTHERS,
GAS COMPANIES BEING MUCH
STRONGER WE ARE SEEING A GREAT
IMPROVEMENT IN EFFICIENCIES
BEGINS A EVERY TIME WE SLOW
DOWN LIKE THIS WE DO THAT.
AND OUR COMPANY IS CERTAIN
WORKING ON THAT WE HAVE SEEN A
GREAT DEAL ADDITIONAL
EFFICIENCIES WE COULD BUILD IN
IN THE FUTURE GOING INTO IT
BUT WE’RE SEEING LOT OF --
PRIVATE EQUITIES ALL THAT
GOING BY THE WAY SIDE.
A LOT OF THEM ARE BEING PUT
TOGETHER UNDER ONE TEAM OR
ANOTHER, AND IN THE INDUSTRY,,
YOU KNOW, REFER TO THEM AS
CRAMCOS, SEVERAL COMPANIES
CRAMMED TOGETHER OTHERS WEAK
SISTERS NOT MAKING IT THERE
HAVE TO FILE BANKRUPTCY YOU
HAVE TO PREPARE FOR THIS, THIS
INDUSTRY IS SLICK CAL GOES UP
AND DOWN MAKE SURE YOU ARE NOT
TOO FAR OUT OVER SKIS IN DEBT
WHAT IS PART WHAT HAVE WE DO
IN THIS INDUSTRY, YOU SURVIVE
IT, YOU GO ON TO BETTER TIMES,
AND THIS IS WHERE WE ARE
HEADED THIS INDUSTRY IS AS I
STABILIZING WE ARE HEADING TO
BETTER TIMES.
>> HAROLD ONE OF THE MOST
IMPORTANT INDICATORS FOR THE
PRICE OF OIL, AND REALLY, THE
HEALTH OF THE INDUSTRY IS
GLOBAL DEMAND, RIGHT?
SO HOW LET ME GET YOUR TAKE
YOU ARE A BUSINESS MAN YOU ARE
SEEING WHERE WE ARE IN TERMS
OF THE SHUTDOWN YOU KNOW WHERE
WE CAME FROM.
BEFORE COVID WE HAD 3 1/2%
UNEMPLOYMENT RATE IN UNITED
STATES, WE HAD REAL EUPHORIA,
IN THE UNITED STATES, IN TERMS
OF THE ECONOMY.
WHAT ARE YOUR EXPECTATIONS FOR
2021 IS IN AN GOING TO COME
BACK HAROLD.
>> IT IS WE’RE GOING TO
SURVIVE THIS PRETTY GOOD
SHAPE.
YOU KNOW, WE ARE GOING TO
SURVIVE THE COVID-19.
.
WHAT WE CAN’T SURVIVE IS
SOCIALISM SOME OF THE POLICIES
THAT YOU KNOW -- WE NEED LAW
AND ORDER, AND MUST HAVE THAT
IN THIS COUNTRY.
AND DEMAND IS COMING BACK.
WE ARE SEEING PEOPLE DAILY,
WITH COVID-19 NOW THEY ARE
BACK GETTING IN AIRPLANES
FLYING WEARING MASKS ALL
THINGS KNOW TO DO TO DEAL WITH
THIS, WE ARE SEEING, ALMOST
BACK TO 50% FLIGHTS AGAIN, IN
U.S.
SO, DEMAND IS COMING BACK
FINALLY -- UTILIZATION UP --
82, 83% COMING BACK, YOU JUST
HAVE TO WAIT FOR THAT TO
HAPPEN PEOPLE PEOPLE DRYING A
HECK OF A LOT MORE THAN
PROBABLY HAVE, SO GASOLINE
SALES IS GOOD DIESEL, OF
COURSE, GOOD WE ARE SEEING
THAT DEMAND RESTORE 2021 YOU
MENTIONED THAT THAT IS GOING
TO BE A VERY GOOD YEAR FOR US
WE’RE LOOKING FORWARD TO THAT,
CONTINENTAL HAS A LOT OF
RUNNING ROOM TREMENDOUS
INVENTORY, AND, YOU KNOW, SO,
ARE COMPANIES THAT THE STABLE
LIKE US GOING TO DO VERY WELL.
MARIA:  WE WILL FOLLOW THE
GROWTH STORY OF CONTINENTAL AS
WE ALWAYS DO GREAT TO SEE YOU
THIS MORNING, OBVIOUSLY, WE
ARE ALL LEARNING ADAPTING HOW
TO LIVE WITH THIS, BECAUSE
THIS IS GOING TO BE WITH US WE
ARE BEING FORCED TO ADAPT SO
WE WILL HOPEFULLY SEE THAT
