05/09/2013 01:34 EDT | Updated 07/09/2013 05:12 EDT

Crescent Point narrows Q1 loss to $1.6M; revenue improves on higher production

CALGARY - Crescent Point Energy Corp. (TSX:CPG) narrowed its net loss in the first quarter as revenues improved almost $90 million on higher production volumes. The Western Canada-focused oil and natural gas producer said the net loss in the three months ended March 31 was $1.6 million or less than a penny per share. That was an improvement over the net loss of $3.9 million or a penny per share it reported in the same 2012 quarter. Oil and gas revenue rose to $642.7 million from 553.1 million.