May 12, 2010 / 9:36 PM / 7 years ago

UPDATE 1-Bonterra Q1 profit up on higher commodity prices

* Q1 EPS C$0.63/shr vs C$0.35/shr last year

* Rev up 41 pct

May 12 (Reuters) - Canadian oil and gas company Bonterra Energy Corp (BNE.TO) said its first-quarter profit nearly doubled, helped by increased production and higher commodity prices.

For the quarter ended March 31, the company earned C$12 million, or 63 Canadian cents a share, compared with C$6.1 million or 35 Canadian cents per share, a year ago.

In the latest first quarter, Bonterra said the average price per barrel for oil and natural gas liquids was $74.88, up from $45.80 per barrel last year.

Revenue from oil and gas sales rose 41 percent to C$27.2 million.

Shares of the Calgary, Alberta-based company, which converted to a corporation in January, closed at C$37.49 Wednesday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Roshni Menon)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below