Prof. Ryan Kellogg comments on lease contract for CNBC
May 23, 2024

In a piece from CNBC about the vice presidential prospect North Dakota Gov. Doug Burgum's relationship to oil magnate Harold Hamm, Harris Prof. Ryan Kelley, among other scholars, was asked to comment on a contract to lease 200 acres of Burgum's family's farmland to Hamm's company, Continental Resources.

“The up-front bonus payment is not disclosed,” Kellogg said. “It’s just listed as ‘$10 and more’ where the ‘more’ is potentially significant. Bonuses are almost never disclosed in leases.”

Kellogg said the document does not disclose details of a bonus to the Burgum farm company, except to give a low range of how much was paid.

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Ryan Kellogg photo
Faculty Spotlight

Ryan Kellogg
Ralph and Mary Otis Isham Professor, and Deputy Dean

Ryan Kellogg's research bridges industrial organization, energy economics, and environmental policy, focusing on the economics of energy supply and energy supply transition.