Continental has a dominant position in the Williston Basin and is delineating the SCOOP and STACK.
As previously announced, Continental Resources’ fourth-quarter production growth was very strong, with average volumes coming in at 287,000 barrels of oil equivalent per day (18% higher sequentially and 37% higher year over year). Consequently, the firm’s financial results handily beat our expectations in the period. Adjusted EBITDA and adjusted earnings per share were $838 million and $0.41, respectively, trumping consensus’ $750 million and $0.29 estimates. Preliminary guidance for 2018 calls ...
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