Oklahoman oil tycoon and self-made billionaire Harold Hamm has always been a head-strong leader of the oil industry. But Hamm, who was responsible for starting the 2007 shale boom in North Dakota, now faces a tougher challenge than ever before, according to the Wall Street Journal.
Hamm has lobbied relentlessly since the beginning of the historic oil price crash, reportedly using his friendship with President Trump and his industry connections to negotiate production cuts.
But as oil demand has yet to recover, Hamm’s company, Continental Resources, is proving to be more vulnerable than other oil leaders. The company, with a current market capitalization of about $5 billion, has about $4.3 billion in debt coming due through 2024, more than all but one of 15 other large independent U.S. oil producers
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