Red Deer County has worked out repayment plans to recoup nearly $2 million in back taxes owed by two energy companies. (File photo by The Associated Press)

Crescent Point Energy reports $212.3 million profit in second quarter

Crescent Point Energy Corp. reported its second-quarter profit fell to $212.3 million from $331.5 million a year ago as it announced a special cash dividend of 3.5 cents per share.

The company says it earned 39 cents per diluted share for the quarter ended June 30, down from 58 cents per diluted share in the same quarter last year.

Oil and gas sales in the quarter totalled $949.6 million, down from $1.29 billion in the first three months of 2022.

On an adjusted basis, Crescent Point says its adjusted earnings from operations totalled 38 cents per share, down from 47 cents per share a year ago.

Average daily production in the quarter was 155,031 barrels of oil equivalent per day, up from 129,176 in the same quarter last year.

Crescent Point says its average selling price in the quarter was $67.31 per barrel of oil equivalent, down from $109.44 a year earlier.