US company Newfield Exploration returned to profit during the third quarter of the year thanks to a rise in revenue and a lack of impairments.
Newfield posted a profit of $48 million for the September quarter, returning to the black after last year’s $1.2 billion third quarter loss when the company also booked nearly $1.9 billion in impairments.
Also helping improve results in the recent quarter was a rise in revenue, year-on-year, from $377 million to $392 million, along with lower expenses.
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