* Q2 adj. profit $1.50 per share vs $1.33 yr earlier
* Avg daily production rises 24 pct
* Revenue falls 19 pct to $886.1 mln
(Adds details from statement)
Aug 5 Continental Resources Inc, one of
the largest oil producers in North Dakota's Bakken shale
formation, said its second-quarter adjusted profit rose 13
percent, helped by a surge in output.
Average daily production in the quarter rose 24 percent to
167,953 barrels of oil equivalent per day.
Adjusted net income rose to $277 million, or $1.50 per
share, for the quarter ended June 30 from $246 million, or $1.33
per share, a year earlier.
Second-quarter revenue, however, fell 19 percent to $886.1
million after the company recorded a loss on derivative
Net income fell to 56 cents per share from $1.75 per share
Rival EOG Resources Inc reported earlier on Tuesday
a better-than-expected quarterly profit as oil production jumped
at its shale holdings across Texas and North Dakota.
Continental Resources' shares closed at $145.74 on Tuesday
on the New York Stock Exchange.
(Reporting by Ernest Scheyder in New York and Kanika Sikka in
Bangalore; Editing by Lisa Shumaker and Gopakumar Warrier)