Canadian oil producer Crescent Point posts bigger loss

Thu May 12, 2016 6:38am EDT
 
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May 12 (Reuters) - Canadian oil and gas producer Crescent Point Energy Corp reported a bigger quarterly loss due to the weak oil prices.

The company posted a net loss of C$87.5 million ($68.15 million), or 17 Canadian cents per share, for the first quarter ended March 31, compared with a loss of C$46.0 million, or 10 Canadian cents per share, a year earlier.

Total production rose about 16 percent to 178,241 barrels of oil equivalent per day. ($1 = 1.2840 Canadian dollars) (Reporting by Amrutha Gayathri and Manish Parashar in Bengaluru)