March 7, 2012 / 10:08 PM / 5 years ago

UPDATE 1-NAL Energy 4th-qtr FFO rises

March 7 (Reuters) - Oil and natural gas producer NAL Energy Corp's fourth-quarter funds from operations (FFO) increased about 12 percent, helped in part by higher oil production from its Saskatchewan operations.

October-December FFO rose to C$68.4 million, or 44 Canadian cents a share, from C$61.3 million, or 40 Canadian cents a share, a year ago.

Net loss widened to C$53.9 million, compared with C$22 million, a year ago.

Revenue rose about 30 percent to C$144.8 million.

The company kept its full year outlook unchanged, and expects to produce 28,000 to 29,000 barrels of oil equivalent per day (boe/d) in 2012. The company also kept its capex for 2012 unchanged at C$200 million.

Shares of NAL Energy closed at C$7.26 on Wednesday on the Toronto Stock Exchange.

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