Whitecap Resources Swings To Q4 Profit

Canada's Whitecap Resources Inc SPGYF posted a profit in the fourth quarter. Whitecap Resources posted a quarterly net income of C$3.2 million, or 4 Canadian cents per share, versus a year-ago net loss of C$4.1 million, or 12 Canadian cents per share. Its revenue jumped to C$47.5 million. Whitecap Resources' production climbed around four-fold to 7,806 barrels of oil equivalent per day (boe/d). It also lifted its average production view by 43.5% to around 15,500 boe/d for this year. Whitecap Resources shares closed at $9.30 yesterday.