February 15, 2018 / 11:13 AM / in 3 months

Canada's Cenovus Energy posts jump in quarterly profit

Feb 15 (Reuters) - Canadian oil producer Cenovus Energy Inc’s fourth-quarter profit soared, as production nearly doubled and the company reined in expenses.

The Calgary-based company said on Thursday its net income jumped to C$620 million ($497 million), or 50 Canadian cents per share, in the quarter ended Dec. 31, from C$91 million, or 11 Canadian cents per share, in the year-ago period.

Total production was 554,606 barrels of oil equivalent per day, up 96 percent. ($1 = C$1.25) (Reporting Ahmed Farhatha in Bengaluru and Rod Nickel in Winnipeg; Editing by Maju Samuel)

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