5 Million Dollars In Cash Displayed At Seminole Hard Rock Casino

Continental Resources’ Chariman and Chief Executive Harold Hamm will not lose his controlling interest in the company as a result of divorce proceedings, according to an Oklahoma District Court judge. Continental is one of the largest oil producers operating in the Bakken Shale and Hamm’s roughly 124 million shares in the company are estimated to be worth about $15.4 billion. [NewsOK] Hamm was also Mitt Romney’s energy advisor.

Oil industry costs are soaring and current levels of capital expenditure being shelled out by the majors cannot continue, Total CEO Christophe de Margerie said Tuesday during CERA Week in Houston. (Read Breaking Energy coverage of the cap ex situation here.) “We have to go to the sub-subcontractors and say: ‘We know what’s going on. We can no longer be the deep pocket,’” de Margerie said. [FuelFix]

Oil prices reacted to news that a supply disruption related to the Ukraine crisis appears unlikely. WTI and Brent prices both decreased during yesterday’s trading session. “It looks increasingly likely that the situation in Ukraine is not going to escalate and people are responding to it,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. “It’s not a big threat to the oil market. It turns out to be a one-day wonder.” [Bloomberg News]