August 9, 2011 / 9:19 PM / 7 years ago

UPDATE 1-NAL Energy Q2 rises; sees FY output at low end of its view

Aug 9 (Reuters) - Canada’s NAL Energy Corp quarterly profit rose, helped by higher crude prices, but expects 2011 output at the low end of its forecast as production was dragged by wet weather conditions in Alberta and Saskatchewan.

The oil and gas company’s April-June profit rose to C$33.3 million, from C$23.4 million last year.

The Calgary, Alberta-based company’s revenue rose 6 percent to C$129.3 million.

U.S. crude oil prices CLc1 soared 32 percent to average $103.49 a barrel in the quarter.

However, the company’s fund from operations fell to 41 Canadian cents a share, from 43 Canadian cents a share, last year, hurt by lower production.

Second-quarter production fell 8 percent to 26,758 barrels of oil equivalent per day (boepd).

NAL’s expects 2011 production at low end of its forecast range of 28,500-29,500 boe/d. (Reporting by Aftab Ahmed in Bangalore; Editing by Maju Samuel)

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