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Cash surge offers shale oil drillers chance to escape Wall Street scrutiny

Harold Hamm’s deal for Continental Resources raises prospect of private ownership for peers

Shale baron Harold Hamm has hardly hidden his disdain for Wall Street’s environmental, social and governance movement, considering it a leash on companies such as Continental Resources as they try to get on with the job of producing more fossil fuels.

A climate change “religion” had gripped investors, he argued in an interview with the Financial Times last year, and companies like European supermajor BP were about to “cut their [own] throat” by winding down oil operations under pressure to decarbonise.

Now Hamm, who first took Continental public in 2007, has a chance to break free of Wall Street’s restraint, with a bid to buy the rest of the shares his family does not already own and return the company to private hands.

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