The company had generated a net loss of $69.6 million in the first quarter of 2011, and net earnings of $81 million in the fourth quarter, it announced.
Earnings before interest, tax, depreciation and amortisation for the quarter were up 48% to $538 million, driven by production growth and higher netbacks.
Pacific recorded production of 93,573 barrels of oil equivalent per day, including a 1703 barrel-per-day increase from its acquisition of 49% of the Z-1 exploration and development block, offshore Peru.
Despite
