October 29, 2018 / 9:12 PM / a year ago

Continental Resources' Bakken production hits quarterly record

HOUSTON, Oct 29 (Reuters) - Continental Resources on Monday said third-quarter Bakken shale production climbed to a record quarterly high of 167,643 barrels of oil equivalent per day, and would rise again next quarter as it completes more wells.

The company said its oil production remained unhedged, creating a “positive tailwind” in the third quarter. Some rivals, including EOG Resources and Pioneer Natural Resources, have warned investors third-quarter earnings would be lower because they had hedged, or locked-in oil prices, at levels below average market price for the quarter to guarantee a profit. (Reporting by Liz Hampton; editing by Diane Craft)

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