CLR 2Q13 Earnings

Continental Resources beats by $0.08, beats on revs : Reports 2Q13earnings of $1.33 per share, excluding non-recurring items, $0.08 better than the estimate of $1.25; revenues rose 70.5% year/year to $892.19 mln vs the $855.05 mln consensus. 2Q13 net production totaled 12.3 million boe. Other highlights from the quarter:

Press release.

• record production totaling 135,700 boepdy for 2Q13, an increase of 12% sequentially and 43% compared to 2Q12 
• adjusted net income for 2Q13 of $246 Million, or $1.33 per diluted share
• record EBITDAX of $708 million, an increase of 14% compared to 1Q13 and 68% compared to 2Q12 
• mid-year 2013 proved reserves total 922 million boe, an increase of 17% from year-nd 2012 
• lower Three Forks activity delineates productive footprint of 3,800 square miles in Bakken 
• 2013 production growth target range tightened upward to 38% to 40%
• Bakken operated well cost target lowered to $8.0 million by year-end 2013