Continental Resources Names New President after Bott's Quick Exit

 

Continental Resources Inc, the largest oil producer in North Dakota's Bakken shale formation, promoted Jack Stark to president on Wednesday, less than a week after Rick Bott quit the position.

Stark, 59, had worked at Continental since 1998, most recently as head of exploration. The promotion instantly makes Stark the top contender to replace founder and Chief Executive Harold Hamm.

Bott stepped down as president last week, a move that surprised many on Wall Street, and even some inside the company. Continental is set to hold an analyst day on Thursday in Oklahoma City.

(Reporting by Ernest Scheyder; Editing by David Gregorio)