Continental Resources Inc., led by billionaire oil wildcatter Harold Hamm, is increasing production as the war in Iran sends crude prices soaring to their highest levels in four years. CEO Doug Lawler confirmed the company is boosting its capital budget to ramp up output, making Continental the first prominent US oil producer to publicly announce such plans amid the conflict.

Iran's war has crippled Persian Gulf supplies, sending crude futures up 50% in four weeks to over $100 a barrel. Prior to the conflict, Continental had planned $2.5 billion in capital spending for 2026, representing a 20% reduction from 2025. The company's fourth-quarter 2025 production reached 475,000 barrels of oil equivalent per day, with 43% from North Dakota's Bakken field and 23% from the Permian Basin.

Hamm, a vocal supporter of President Donald Trump in the oil industry, has positioned Continental to capitalize on the price surge. The Oklahoma City-based company recently expanded into Argentina's Vaca Muerta shale patch while maintaining operations across North Dakota, Oklahoma, Wyoming, and Texas. The dramatic shift from fears of a global crude glut just months ago to today's price rally has fundamentally altered Continental's production strategy.