Continental Resources, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company's total revenues were $710.2 million compared with $395.1 million a year ago. Income from operations was $270.1 million compared with $135.6 million a year ago. Income before income taxes was $223.2 million compared with $112.1 million a year ago. Net income was $140.6 million or $0.76 per basic and diluted share compared with $69.1 million or $0.38 per basic and diluted share a year ago. Net cash provided by operating activities was $458.1 million compared with $364.9 million a year ago. EBITDAX was $621.5 million compared with $454.5 million a year ago. Adjusted net income was $215.4 million or $1.17 per diluted share compared with $137.9 million or $0.76 per diluted share a year ago. Non-acquisition capital expenditures for the quarter totaled approximately $899 million, including $792 million in exploration and development drilling, $84 million in leasehold and seismic and $23 million in walkovers, recompletions and other. Acquisition capital expenditures totaled approximately $22 million for the quarter. For the quarter, the company achieved record net production of approximately 121,500 barrels oil equivalent per day, which includes 71% crude oil. Net Bakken production increased to approximately 76,900 Boe per day for the quarter, representing 63% of total production. Gross operated Bakken production surpassed a significant milestone, averaging more than 100,000 Boe per day for the quarter. Net production from South Central Oklahoma Oil Province play increased to approximately 14,200 Boe per day, up 100% from fourth quarter 2012 and up 462% from first quarter 2012. First quarter 2013 net production totaled 10.9 million Boe, or approximately 121,500 Boe per day, a sequential increase of 14% from fourth quarter 2012. Total production included approximately 86,100 barrels of oil per day (71% of production) and approximately 212.8 million cubic feet of natural gas per day (29% of production). The company announced property impairments of $40.1 million for the first quarter of 2013. For the year 2013, the company expects production growth in the range of 35% to 40%. For the year 2013, the company expects capital expenditures of $3.6 billion and income tax rate of 37%.

Continental Resources, Inc. Presents at FBR Energy & Industrials One-on-One Series, May-13-2013 . Venue: Four Seasons Hotel Boston, 200 Boylston Street, Boston, MA 02116, United States.

Continental Resources, Inc., Q1 2013 Earnings Call, May 09, 2013