ENID — Looking for growth
All the while Continental is drilling in established reservoirs, it is searching for the next big opportunity.
“We have a very active exploration group, with a number of long-term, seasoned geologists,” Hart said. “We’re always looking for the next play. We’re not by nature an acquisition company, we’re an exploration company. We’re always looking for opportunities to expand what we have.”
Continental has offices across the U.S., its headquarters currently divided between Enid and Oklahoma City is challenging.
“We’re used to managing multiple locations,” he said, “but from a headquarters staffing perspective it’s always better if you’re in one location.
“It’s certainly easier when you can walk down the hall and see somebody. We’re a very personal, connected company. Face time between individuals is something that’s important to us.”
Continental has moved a portion of its information technology department into its new home in downtown Oklahoma City, a building still being vacated by former owner Devon Energy. The company was scheduled to take over two additional floors of its new building in late March. The finance department is scheduled to move to Oklahoma City in late May, while the remaining departments will be moving throughout the summer, Hart said.
“Devon will be fully out by the end of June, or thereabouts,” Hart said. “We should fully occupy (the new building) by late-July or mid-August.”
Continental’s new home, which will be called Continental Oil Tower, is a 19-story, 307,000-square foot building. More than 80 percent of Continental’s employees in Enid elected to make the move. Continental is expected to employ 400 people at its new headquarters, with that number expected to grow to 450 by the end of the year.
The move, Hart said, “has gone fairly seamlessly, so far. I expect it will continue to be done in an orderly and systematic fashion as we move forward.”
Continental’s future will be projected later this year when the company’s new five-year plan is released.
“We’ve got a long-term, sustainable growth profile in front of us,” Hart said. “We expect to be a very large, self-sustaining, cash flow generating, world class oil and gas company. We’re well on track for that. I expect us to be a significantly larger company.”ꆱ