Cenovus Energy Swings To Profit As Production Rises

Reuters

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.

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