Canada's Penn West posts bigger loss amid oil price slump

Thu Nov 5, 2015 6:38am EST
 
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Nov 5 (Reuters) - Canadian oil producer Penn West Petroleum Ltd reported a much bigger quarterly loss, hurt by a slump in crude oil prices.

The company's net loss widened to C$764 million ($580 million), or C$1.52 per share, in the third quarter ended Sept. 30, from C$15 million, or 3 Canadian cents per share, a year earlier.

The Calgary, Alberta-based company said gross revenue halved to C$295 million. ($1 = C$1.32) (Reporting by Swetha Gopinath in Bengaluru; Editing by Savio D'Souza)