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Continental Rises to Record on Bakken Oil Prices: Houston Mover

Continental Resources Inc. (CLR), the biggest petroleum leaseholder in North Dakota’s Bakken Shale field, rose to a record today as prices for oil from the field increased from recent lows.

Continental rose 7.1 percent to a record $88.83 at the close in New York.

Bakken oil closed at $92.20 a barrel, according to data compiled by Bloombeg. Prices have risen 30 percent since a partial shutdown at a refinery that processes the crude sent them as low as $71.17 a barrel on Feb. 10, Brian Lively, an analyst at Tudor Pickering Holt & Co. in Houston, said in an interview.

Lively rates Continental a “hold” and owns none of the stock.

To contact the reporter on this story: Mike Lee in Dallas at mlee326@bloomberg.net

To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net

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