February 12, 2020 / 11:11 AM / 2 months ago

REFILE-Cenovus posts quarterly profit on higher prices

(Corrects dateline to Feb. 12)

Feb 12 (Reuters) - Canadian oil producer Cenovus Energy posted a quarterly profit on Wednesday compared with a year-ago loss, benefiting from higher Canadian crude prices and increased U.S. sales as it moved more oil by rail.

Net earnings from continuing operations were C$113 million ($85.15 million), or 9 Canadian cents per share, in the fourth quarter ended Dec. 31, compared with a loss of C$1.35 billion, or C$1.10 per share, a year earlier.

Total production from continuing operations rose 8% to 467,448 barrels of oil equivalent per day. ($1 = 1.3270 Canadian dollars) (Reporting by Taru Jain; Editing by Krishna Chandra Eluri)

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