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Continental Resources Inc. said Thursday it boosted fourth-quarter profits more than 100-fold as the petroleum driller increased production while charging more per barrel.
Continental reported net income of $49.5 million, or 29 cents a share, in the final three months of 2009. That compares with $416,000, or less than a penny per share, for the same part of 2008. Revenue jumped 53 percent to $207.6 million for the quarter.
Analysts expected fourth-quarter earnings of 30 cents a share on revenue of $182.3 million.
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