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Company News

Canada's Crescent Point posts quarterly profit

July 27 (Reuters) - Canadian oil and gas producer Crescent Point Energy Corp posted a quarterly profit on Thursday, compared with a year-earlier loss, helped by higher realized oil prices and an increase in production.

The company’s net income was C$83.6 million ($67.18 million), or 15 Canadian cents per share, in the second quarter ended June 30, compared with a loss of C$226.1 million, or 45 Canadian cents per share, a year earlier.

Total production rose to 175,615 barrels of oil equivalent per day from 167,218 a year earlier. ($1 = 1.2444 Canadian dollars) (Reporting by Anirban Paul in Bengaluru; Editing by Anil D’Silva)

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