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  4. Continental names former Chesapeake boss Lawler as operating chief
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Continental names former Chesapeake boss Lawler as operating chief

(Reuters) - Continental Resources (NYSE:CLR) Inc on Tuesday named Doug Lawler, the former top boss of Chesapeake Energy Corp (NYSE:CHK), as its chief operating officer and...
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Continental names former Chesapeake boss Lawler as operating chief © Reuters. FILE PHOTO: Birds fly over storage tanks on a Continental Resources oil production site near Williston, North Dakota January 23, 2015. REUTERS/Andrew Cullen (UNITED STATES - Tags: BUSINESS ENERGY COMMODITIES)/File Photo

(Reuters) - Continental Resources (NYSE:CLR) Inc on Tuesday named Doug Lawler, the former top boss of Chesapeake Energy Corp (NYSE:CHK), as its chief operating officer and executive vice president from next month.

Lawler was Chesapeake's CEO for eight years before he was unexpectedly fired in April last year, months after the company's emergence from bankruptcy.

He had been widely credited with whittling away Chesapeake's $13 billion debt load with a conservative approach to spending and had shepherded the company through bankruptcy.

Lawler would succeed Jack Stark, who plans to retire from Continental by late spring.

"Lawler's addition as new COO should be viewed well by investors. He has extensive industry experience and is well known to investors," Scott Hanold, an analyst at RBC Capital Markets, said in a note.

The 30-year veteran of the oil and gas industry joins Continental at a time when the company is trying to ramp up output following the purchase of Pioneer Natural (NYSE:PXD) Resource's Permian Basin assets last year. (https://reut.rs/3qBXnb3)

Continental's shares were 1.4% higher at $53.01.

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
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 IBEX 3510,854.40Neutral
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 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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