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Calgary-based Penn West posts big loss in 4th quarter

原始发布日期: 2016-03-10    发布者:李方

           

Penn West posts loss of $1.2B in 4th quarter

Calgary-based oil and gas company 4th quarter loss affects share price


Penn West Petroleum Ltd. is a Calgary-based producer of conventional oil. It's one of many energy companies affected by a steep drop in oil prices. (Penn West)


Penn West Petroleum Ltd. on Thursday reported a loss of $1.2 billion in its fourth quarter.

The Calgary, Alberta-based company said it had a loss of $2.40 per share. Losses, adjusted for asset impairment costs and non-recurring costs, came to $1.73 per share.

The oil and natural gas company posted revenue of $204.5 million in the period.

For the year, the company reported that its loss widened to $1.98 billion, or $3.95 per share. Revenue was reported as $950 million.

The company's shares closed at $1.23. A year ago, they were trading at $1.64.

The Associated Press, 2016

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