Feb 16 (Reuters) – Canadian oil company Cenovus Energy Inc swung to a quarterly profit, as production rose and costs fell.
The company reported net earnings of C$91 million ($69.73 million), or 11 Canadian cents per share, in the fourth quarter, compared with a loss of C$641 million, or 77 Canadian cents per share, a year earlier.
Crude oil production rose about 10 percent to 219,551 barrels per day.
(Reporting by Muvija M in Bengaluru; Editing by Shounak Dasgupta)
Copyright 2017 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.