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Nov 6, 2014
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Nov 5, 2014
Nov 5, 2014

Continental Resources profit soars as it exits oil hedging

Nov 5 (Reuters) – Continental Resources Inc, the
largest oil producer in North Dakota’s Bakken shale formation,
posted a quarterly profit on Wednesday that met Wall Street’s
expectations, helped by higher oil production and a surprising
decision to stop hedging the price of oil.

The move to sell all crude oil hedge positions for the next
three years netted Continental a $433 million one-time gain
during the quarter.