May 9, 2012 / 10:43 AM / 5 years ago

Crocotta Energy loss narrows on higher output

(Reuters) - Canada’s Crocotta Energy Inc CTA.TO reported a narrower first-quarter loss, helped by a rise in oil and natural gas production and lower costs.

Crocotta’s net loss narrowed to C$293,000 from C$4.4 million a year ago.

Production rose to 6,752 barrels of oil equivalent per day (boe/d) from 2,274 boe/d.

Oil and natural gas sales for the company, which operates primarily in west-central Alberta and northeast British Columbia, rose to C$20.14 million from C$7.5 million.

Shares of the Calgary, Alberta-based company closed at C$2.15 on Tuesday on the Toronto Stock Exchange.

Reporting by Maneesha Tiwari in Bangalore; Editing by Maju Samuel

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