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(Reuters) -U.S. shale producer Continental Resources (NYSE:CLR) will name operating chief Doug Lawler as its new chief executive officer, according to a person familiar with the matter on Tuesday.
Lawler was CEO at shale gas producer Chesapeake Energy (NYSE:CHK) before joining Continental in February. He will step into his role in January, the person said, replacing current CEO William Berry.
Continental Resources last month was taken private by founder Harold Hamm. Headquartered in Oklahoma City, Continental is one of the largest U.S. oil and gas shale drillers with a focus on North Dakota’s Bakken shale.
In 2021, it produced some 160,600 barrels of oil per day, and 329,600 barrels of oil equivalent per day.
Lawler ran Chesapeake Energy for eight years, including through a bankruptcy process that it completed in 2021. He has been credited with whittling away at Chesapeake’s $13 billion in debt and an ill-timed bet on shale oil just ahead of a oil price crash.
