May 10, 2012 / 6:58 AM / 6 years ago

UPDATE 1-Pacific Rubiales posts 1st-qtr profit

May 10 (Reuters) - Canadian oil company Pacific Rubiales Energy Corp swung to a first-quarter profit as a recent acquisition in Peru boosted production, it said on Thursday.

First-quarter net income was $258.3 million, or 85 cents per share, compared with a net loss of $69.6 million, or 26 cents per share, a year ago.

On an adjusted basis, the company earned 97 cents per share.

Production, net of royalties, rose 17 percent to 93,573 barrels of oil equivalent per day, which includes 1,703 barrels per day from the recent acquisition in Peru.

Cash flow, a measure of a company’s ability to fund operations, rose about 80 percent to $576.1 million.

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