Talisman Energy posts profit on growth from shale plays

Tue May 1, 2012 5:14am EDT

May 1 (Reuters) - Canadian oil and gas producer Talisman Energy Inc reported a first-quarter profit driven by growth from North American shales.

Talisman, which has been building up its position in oil and liquids-rich shale plays in Canada and the United States, earned $291 million, or 28 cents per share, compared with a net loss of $326 million, or 32 cents per share, a year ago.

Earnings from operations rose to $167 million, or 16 cents per share, from $157 million, or 15 cents a share, a year ago.