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Continental Resources posts recovering Q2 results, beats estimates

Continental Resources Inc. on Aug. 7 reported $272.9 million, or 73 cents per share, in adjusted net income for the second quarter, compared to a loss of $1.8 million, or zero cents per share, in the second quarter a year ago.

The S&P Global Market Intelligence consensus normalized earnings estimate for the second quarter was 71 cents per share.

Net income totaled $242.5 million, compared to a loss of $63.6 million in the prior-year period. Continental reported revenue of $1.14 billion in the second quarter, compared to $661.5 million a year earlier.

Continental said production came to 284,059 barrels of oil equivalent per day in the second quarter, compared to 226,213 boe/d a year earlier.