UPDATE: Talisman Posts Profit Helped by Higher Production, Yet Shares Fall 2%

By Midnight Trader,  May 01, 2012, 09:55:13 AM EDT

Canadian oil and gas producer Talisman Energy Inc (TLM.TO) fell 2% in early trade despite reportedly recording a first quarter profit on higher production of liquids from Southeast Asia and North American shales, but it cut capital spending plans again as gas prices remain weak.

Reuters said the company earned $291 million, or 28 cents per share, compared with a net loss of $326 million, or 32 cents per share, a year ago. Earnings from operations rose more than 6% to $167 million, or 16 cents per share. Cash flow rose 5% to $851 million, or 83 cents per share.

TLM is now trading at $12.66 on volumes of over 550,000.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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