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Crescent Point Energy Corp. posted a profit of $30.5-million in its latest quarter compared with a loss of $270.6-million a year ago.

The energy company says the profit amounted to six cents a share for the quarter ended Sept. 30 compared with a loss of 50 cents a share in the same quarter last year.

Production in what was the company’s third quarter averaged 174,275 barrels of oil equivalent a day compared with 176,069 boe/d in the third quarter last year.

Crescent Point says the production comprised of approximately 90 per cent oil and liquids.

The company’s average selling price was $67.15 per barrel of oil equivalent, up from $47.35 a year ago.

In September, Crescent Point announced plans to reduce its work force by 17 per cent, sell some infrastructure assets and reduce its debt by more than $1-billion by the end of 2019.

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