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Petro-Canada reports 83% rise in second quarter earnings

Petro-Canada has also reported a new discovery in the Dutch sector of the North Sea in its second quarter results.

Published Jul 25, 2008
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Petro-Canada reported an 83% rise in second quarter earnings to US $1.49 Bn, from $794m last year, and net earnings of $1.48 Bn, almost double the $794m in the second quarter of 2007.

Petro-Canada has also reported a new discovery in the Dutch sector of the North Sea in its second quarter results.

The company said a prospect referred to as Van Ghent was successfully drilled in the Dutch sector without providing any further details.

Also Petro-Canada came in with two non-commercial wells during the quarter, on Maria in the UK sector of the North Sea, and on the L5a-11 licence in the Dutch sector.

A further three wells, including one on the UK Gemini prospect were listed as dry holes.