Harold Hamm, Continental Resources Pledge $50 Million to Create OSU Energy Institute

Aiming to restore Oklahoma to the forefront of U.S. energy, the Harold Hamm Foundation and Continental Resources Inc. have pledged a combined $50 million to Oklahoma State University (OSU) to create the Hamm Institute for American Energy.

The institute is intended to be a forum for global energy discussions that also offers a state-of-the-art lab featuring wells drilled below the building, an auditorium and classrooms. The building is a perfect venue, Hamm said, and would be the basis for a one-of-a-kind institute.

“I think it’s very fitting,” Hamm told Hart Energy. “When we came up with the idea that we should do this, I felt like this was something that was meant to be.”

Initially, $20 million will be set aside for programming, including summits and symposiums. The institute will also touch on every discipline at OSU, from geoscience and engineering to business. 

Hamm said the $20 million will be “seed money” and that he’s hopeful for contributions from other industry players in Oklahoma and other states.

“This should be the beginning,” he said.

The institute will also touch on advocacy as Hamm wants to further the narrative of environmental stewardship through clean burning natural gas as well as Oklahoma’s role in the oil and gas story. The institute will include presentations from Hamm himself as well as noted economists and other thought leaders.

“I believe we can bring the brightest and the best ideas right here to Oklahoma City,” he said.

Hamm also said he wants to see a global perspective as the institute begins to address problems such as coal-fired power, ESG, addressing energy poverty and carbon capture and management. 

“What we’re after here today is creating the basis for reliable affordable energy,” he said. “This is nonpartisan. This is not about politics. This is about energy solutions and about what we can do in the future.”

The institute’s intended mission is to educate the next generation of energy leaders in the state, the nation and worldwide. 

“The generous gifts from Harold Hamm and Continental Resources to establish the Hamm Institute for American Energy will have a transformative impact on OSU and the energy sector worldwide,” OSU President Kayse Shrum said in a news release. “Mr. Hamm’s and Continental’s generosity will bring together the brightest minds and future energy sector leaders from around the world, all with a goal of solving one of society’s most pressing concerns. Together, we will change the trajectory of energy security in the United States.”

Initial funding for the institute and project will consist of $25 million from the Harold Hamm Foundation and $25 million from Continental Resources. The Hamm Institute will be located at what was OSU Discovery, 300 NE 9th St. in the Oklahoma City Innovation District. The building was formerly Baker Hughes’ Oil & Gas Technology Center.

The institute will host symposiums, authors, speakers, energy summits and global energy leadership conversations, OSU said. The building will also eventually house the Oklahoma Hall of Energy Legends Interactive Museum, a public exhibit highlighting the history and storied legacy of Oklahoma’s great energy leaders. 

Hamm, a native Oklahoman and founder and chairman of Continental Resources, began his career in oil and gas over five decades ago, starting out with a single oil service truck and a dream.

Hamm is recognized as a national leader and staunch advocate of America’s domestic oil and natural gas industry. He has spent over five and a half decades in the industry, from starting his own oil services business to founding one of America’s most dynamic and innovative exploration and production companies, Continental Resources. His efforts have contributed to the well-being of every American and is helping secure the nation’s energy and economic security. 

“Oklahoma is an energy state and Harold is our energy icon. This collaboration between one of our great universities and one of our most innovative and successful energy companies and entrepreneurs will raise the bar for American energy innovation,” said Oklahoma Gov. Kevin Stitt. 

In acknowledgement of Continental’s contributions, the building’s concourse and auditorium will be named as the Continental Resources Concourse and Continental Resources Auditorium. The program fund supporting the institute also will be named in recognition of Continental.

Bill Berry, Continental Resources CEO, told Hart Energy the institute will be “one of the premier, if not the premiere, energy institutes not only in the country but in the world.”

“We're really excited about this,” he said.