Encana posts bigger loss due to restructuring costs
Feb 13 (Reuters) - Encana Corp, Canada's largest natural gas producer, reported a bigger quarterly loss, partly due to higher administrative expenses related to restructuring.
Encana is in the midst of a restructuring launched by new Chief Executive Doug Suttles as the company looks to cut production of low-value natural gas and increase output of more lucrative oil and natural gas liquids.
The company's net loss widened to $251 million in the fourth quarter ended Dec. 31 from $80 million, a year earlier.
Excluding most one-time items, Encana posted an operating profit of $226 million, or 31 cents per share, down from $296 million, or 40 cents per share, a year earlier.
- Malaysia air probe finds scant evidence of attack: sources |
- Search widened as Malaysia air probe finds scant evidence of attack |
- Confrontation in Ukraine as diplomacy stalls |
- Exclusive: Chinese raw materials also found on U.S. B-1 bomber, F-16 jets
- Freescale loss in Malaysia tragedy leads to travel policy questions