Low Oil Prices Force Billionaire Harold Hamm to Halt Bakken Drilling

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Billionaire Harold Hamm is halting Bakken drilling operations in North Dakota due to low oil prices, marking the first time in over 30 years without drilling rigs in the area.

Market Impact

Market impact analysis based on bearish sentiment with 90% confidence.

Sentiment
Bearish
AI Confidence
90%
Time Horizon
Short Term

Article Context

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If anyone is still wondering whether the Trump Administration’s goal of $50 per barrel oil price would hurt American drillers, the answer came this week from oil tycoon and wildcatter Harold Hamm, who is ceasing drilling operations in North Dakota for the first time in decades. “This will be the first time in over 30 years that Harold Hamm has not had an operation with drilling rigs in North Dakota,” Hamm, who founded Continental Resources, told Bloomberg in a telephone interview published on Friday. “There’s…

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Original article published by OilPrice.com on January 16, 2026.
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