November 15, 2011 / 1:18 PM / 7 years ago

UPDATE 1-Anderson Energy posts Q3 profit on crude prices

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Nov 15 (Reuters) - Canadian oil and gas company Anderson Energy Ltd posted a quarterly profit, helped by higher crude prices.

July-September profit was C$7.5 million, or 4 Canadian cents a share, compared with a loss of C$39 million, or 23 Canadian cents a share, last year.

Third-quarter production was flat at 7,351 barrels of oil equivalent per day (boe/d), from 7,292 boe/d last year, as wet weather conditions in Canada earlier this year hampered drilling activity.

Oil and NGL production rose 76 percent to average 2,345 barrels per day.

The company sold oil at 30 percent higher price, while it was able to command 12 percent higher price for gas from last year. (Reporting by Aftab Ahmed in Bangalore; Editing by Sriraj Kalluvila)

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