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Encana posts profit vs year-ago loss as oil prices climb

May 2 Canadian oil and gas producer Encana Corp reported a quarterly profit, compared with a year-ago loss, as the rebound in oil and gas prices boosted margins and its production of oil and natural gas liquids rose.

The company posted a net profit was $431 million for the first quarter ended March 31, compared with a loss of $379 million a year ago.

On a per share basis, the company reported an operating profit of 11 cents, compared with a loss of 15 cents a year ago. (Reporting by Swetha Gopinath in Bengaluru; Editing by Savio D'Souza)

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