MEG Energy's Quarterly Loss Widens
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)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- MEG Starts Bidding War After Rejecting $2.34B Husky Offer (Oct 17)
- Canada's MEG Energy To Sell Pipeline, Storage Assets For C$1.61B (Feb 08)
- Canadian Oil Sands Producers: Heady Days May Not Last Long (Aug 21)