Penn West posts loss of $1.2B in 4th quarter
The Associated Press | Posted: March 10, 2016 3:51 PM | Last Updated: March 10, 2016
Calgary-based oil and gas company 4th quarter loss affects share price
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.
- MORE CALGARY NEWS|TransCanada dropping coal could cost consumers $500M, says Gary Reynolds
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.