Continental Resources, Inc. (CLR)

[eFinanceMarkets]

$CLR Continental Resources (NYSE:CLR) +1.6% after-hours as it reports better than expected Q4 earnings and revenues, which nearly doubled to $1.05B from the year-ago quarter.

CLR says Q4 net production rose 37% Y/Y to ~287K boe/day, with oil output gaining 44% to 168K bbl/day; Bakken net production jumped 58% to an all-time high of 165.6K boe/day, STACK net production surged 96% to 47.9K boe/day, and SCOOP net production fell 2% to 62.2K boe/day.

CLR says it brought online 39 gross operated wells in the Bakken during Q4 with a 24-hour initial production average of 2,180 boe/well, and five were record Bakken producers for the company, flowing an average of 2,230 boe/day (80% oil) during first 30 days.