Talisman Energy posts $1 bln loss on asset impairment charge

Wed Feb 12, 2014 5:36am EST
 
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Feb 12 (Reuters) - Talisman Energy Inc, Canada's No. 5 independent oil and gas producer, posted a $1 billion quarterly loss as it recorded a $826 million impairment charge.

Separately, the company said it aims to sell a further $2 billion of assets over the next 12-18 months. Talisman raised over $2 billion from asset sales in 2013.

The company's loss was $1.01 billion, or 98 cents per share, in the fourth quarter, compared with a profit of $376 million, or 37 cents, a year earlier.

Loss from operations, which excludes most one-time items, widened to $116 million, or 11 cents per share, from $107 million, or 10 cents per share.