MEG Energy posts loss on forex charge

Tue Jul 30, 2013 6:02am EDT
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July 30 (Reuters) - Canadian oil sands producer MEG Energy Corp reported a bigger second-quarter loss due to a foreign exchange loss on its U.S. dollar-denominated debt.

Net loss widened to C$62.31 million ($60.73 million), or 28 Canadian cents per share, from C$29.53 million, or 15 Canadian cents per share, a year earlier.

MEG took a C$82.4 million pre-tax charge on the translation of the company's U.S. dollar-denominated debt, as the Canadian dollar decreased in value relative to the U.S. dollar, the company said.