CORRECTED-Crescent Point posts profit as oil and gas production increases

Thu May 8, 2014 9:18am EDT

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(Corrects paragraph 3 to show production rose to 130,580 barrels of oil equivalent per day from 117,663 a year earlier, not rose to 130.6 million barrels of oil equivalent per day from 117.7 million a year earlier)

May 8 (Reuters) - Crescent Point Energy Inc, Canada's No. 4 independent oil and gas producer, reported a first-quarter profit, compared with a year-earlier loss, driven by higher production.

The company, whose shares have risen by nearly a quarter over the past year, said net income was C$30.89 million ($28.33 million), or 8 Canadian cents per share, in the three months ended March 31. Crescent Point reported a net loss of C$1.61 million in the same quarter of 2013.

Average daily production rose to 130,580 barrels of oil equivalent per day from 117,663 a year earlier. ($1 = 1.0903 Canadian dollars) (Reporting by Sneha Banerjee and Scott Haggett; Editing by Ted Kerr)

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