February 26, 2020 / 9:30 PM / a month ago

Continental Resources reports lower profit on weak gas prices

Feb 26 (Reuters) - Continental Resources Inc on Wednesday posted a slight drop in quarterly profit as weaker prices for natural gas muted higher production.

Net income attributable to the company fell to $193.9 million in the three months ended Dec. 31 from $197.7 million a year earlier. On a per share basis, profit remained flat at 53 cents.

Continental, which operates in the Bakken in North Dakota and Montana as well as the STACK and SCOOP plays in Oklahoma, said production rose 12.8% to 365,341 barrels of oil equivalent per day (boepd), while price fell 9.8% per barrels of oil equivalent. (Reporting by Arathy S Nair in Bengaluru; Editing by Arun Koyyur)

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