Newspaper article The Canadian Press

PrairieSky Results Buoyed by Strong Oil Prices despite Poor Natural Gas Prices

Newspaper article The Canadian Press

PrairieSky Results Buoyed by Strong Oil Prices despite Poor Natural Gas Prices

Article excerpt

PrairieSky Q2 buoyed by strong oil prices

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CALGARY - PrairieSky Royalty Ltd. says strong crude oil prices and volumes in the second quarter allowed it to beat analyst profit expectations despite falling prices and lower production of natural gas.

The results offer an early indication of what energy investors can expect as PrairieSky, spun out by Encana Corp. in 2014, is the first publicly-traded oil and gas firm to report on the three months ended June 30.

Other companies reporting this week include Suncor Energy Inc., Husky Energy Inc., Cenovus Energy Inc., Imperial Oil Ltd. and Precision Drilling Corp.

Calgary-based PrairieSky generates revenue by collecting a percentage of production from the oil and gas producers who lease its lands.

It is reporting $76. …

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