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Continental names former Chesapeake boss Lawler as operating chief -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A flock of birds fly by storage tanks at the Continental Resources oil plant near Williston (North Dakota) January 23, 2015. REUTERS/Andrew Cullen (UNITED STATES – Tags: BUSINESS ENERGY COMMODITIES)/File Photo

(Reuters) – Continental Resources (NYSE 🙂 Inc named Doug Lawler (ex-top boss at Chesapeake Energy Corp NYSE:) as chief operating officer and executive Vice President starting next month.

Lawler had been Chesapeake’s chief executive officer for eight years. In April 2011, he was abruptly fired, just months after his company’s recovery from bankruptcy.

It was his credit that Chesapeake had slashed its $13 Billion debt with a conservative spending approach and that he had rescued the company from bankruptcy.

Jack Stark will retire at the end of spring and Jack Stark would be succeeded by Lawler.

“Investors should look positively at Lawler’s new role as COO. Scott Hanold from RBC Capital Markets said that he has extensive industry experience. He is also well-known to investors.”

Continental welcomes the 30-year oil and gas industry veteran to its ranks. This is at a time when Continental’s efforts to boost output are being hampered by Pioneer Natural (NYSE.) Resource’s Permian Basin assets. (https://reut.rs/3qBXnb3)

Continental shares rose 1.4% to $53.01

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