May 13, 2010 / 10:25 PM / 8 years ago

UPDATE 1-Pacific Rubiales profit falls on non-operating expenses

* Q1 EPS $0.13 vs $0.25 last year

* Q1 rev soars

May 13 (Reuters) - Canadian oil firm Pacific Rubiales Energy’s PRE.TO first-quarter income fell 39 percent, hurt by non-operating expenses of $78.5 million.

Net income was $32.1 million, or 13 cents a share, compared with $52.6 million, or 25 cents a share, a year ago.

Revenue soared to $380.5 million from $110 million last year, on the back of an 81 percent increase in average realized oil and gas sales price.

The company also nearly doubled average production of oil and gas sold to 65,702 barrels of oil equivalent per day.

The average price on the West Texas Intermediate crude oil futures for the period was $78.45 per barrel compared with $44.53 a barrel last year.

Shares of the company closed at C$21.52 on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Roshni Menon) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

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