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Canada's Penn West Petroleum's gross revenue falls 5 pct
May 1, 2014 / 11:01 AM / 3 years ago

Canada's Penn West Petroleum's gross revenue falls 5 pct

May 1 (Reuters) - Canadian oil and gas producer Penn West Petroleum Ltd reported a 5 percent fall in gross revenue after production decreased 22 percent.

Gross revenue, which includes realized gains and losses on commodity contracts, fell to C$668 million ($608 million) in the quarter ended Mar. 31 from C$704 million a year earlier.

Net loss narrowed marginally to C$96 million from C$97 million but was flat at 20 Canadian cents on a per-share basis.

Total production fell to 110,795 barrels of oil equivalent per day (boe/d). ($1 = 1.0975 Canadian Dollars) (Reporting by Ashutosh Pandey in Bangalore)

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