Crescent Point reports profit of $30.5 million

CALGARY – Crescent Point Energy Corp. posted a profit of $30.5 million in its latest quarter compared with a loss of $270.6 million a year ago.

The energy company says the profit amounted to six cents per share for the quarter ended Sept. 30 compared with a loss of 50 cents per share in the same quarter last year.

Production in what was the company’s third quarter averaged 174,275 barrels of oil equivalent per day compared with 176,069 in the third quarter last year.

Crescent Point says the production comprised of approximately 90 per cent oil and liquids.