May 18 (Reuters) - Oil and natural gas company Angle Energy Inc’s first-quarter profit rose 20 percent, helped by higher production.
January-March profit rose to C$4.2 million, or 6 Canadian cents a share, from C$3.5 million, or 6 Canadian cents a share.
Oil and gas revenues rose 58 percent to C$44.1 million.
Oil production rose 3-times averaging 1,035 barrels a day, while total oil and natural gas liquids production increased by 58 percent to 4,967 barrels a day.
Capital spending for the period was C$37.5 million, which included the drilling of seven wells.
Shares of Calgary-based closed at C$8.98 on Wednesday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Prem Udayabhau)