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Canada's Crescent Point reports smaller loss in fourth quarter

Published 2018-03-01, 06:36 a/m
Canada's Crescent Point reports smaller loss in fourth quarter
VRN
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March 1 (Reuters) - Canada's Crescent Point Energy Corp CPG.TO reported a smaller loss in the fourth quarter thanks tohigher oil prices and production.

The oil and gas producer said on Thursday net loss narrowedto C$56.4 million ($43.9 million) or 10 Canadian cents per sharein the quarter ended Dec. 31, from C$510.6 million or 94Canadian cents per share, a year earlier. The prior-year quarterincluded a one-time loss on derivatives of C$138.7 million. average production rose 8.4 percent to178,975 barrels of oil equivalent per day.($1 = 1.2847 Canadian dollars)

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