May 10 (Reuters) - Canada’s No.5 independent oil producer Crescent Point Energy Corp reported a smaller quarterly loss on higher production and increased selling prices.
First-quarter loss was C$3.9 million, or 1 Canadian cent per share, compared with a year-earlier loss of C$102.2 million, or 38 Canadian cents per share.
Average daily production rose to 90,285 barrels of oil equivalent per day (boe/d) from 75,574 boe/d, a year earlier.
Average selling price rose 7 percent to C$81.13 per boe.
Funds from operations rose 35 percent to C$400.9 million, or C$1.34 per share.
Crescent Point shares closed at C$40.92 on Wednesday on the Toronto Stock Exchange.