CLR: outstanding 3rd quarter earnings

Continental Resources reports outstanding 3rd quarter results.

CLR announced that the company doubled its operating earnings and net income for the third quarter.

CLR will expedite its drilling program and increased its 2009 (current year) capital expenditures from $390 million to $415 million.

CLR will exit 2009 with 12 operated drilling rigs, compared with the previous target of six. That's incredible, doubling the number of its rigs from six to 12.

Average daily production the most recent quarter was 37,384 boepd vs 33,297 boepd last year, same quarter.

33,297 *$50 *365 = $608 million/year.

37,384 *$70 * 365 = $955 million/year.

Oh, by the way, CLR has 59 wells on the confidential list.