MEG Energy's Quarterly Loss Widens



Reuters

Feb 4 (Reuters) – Canadian oil sands producer MEG Energy Corp posted a bigger quarterly loss, hurt by lower oil prices and a strong U.S. dollar.

The company's net loss widened to C$297.3 million ($217.4 million), or C$1.32 per share, in the fourth quarter ended Dec. 31, from C$150.1 million, or 67 Canadian cents per share, a year earlier.

The company's operating loss, which excludes most one-time items, was C$140.2 million, compared with a profit of C$8.1 million in the same quarter of 2014. ($1 = 1.37 Canadian dollars)

(Reporting by Anet Josline Pinto in Bengaluru; Editing by Sriraj Kalluvila)

 

 



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