Husky Energy swings to loss, cuts 2015 capex

Thu Feb 12, 2015 7:19am EST
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Feb 12 (Reuters) - Husky Energy Inc, Canada's No.3 integrated oil company, swung to a quarterly loss and cut its capital spending for 2015 due to a 50 percent drop in oil prices since June.

The company, controlled by Hong Kong billionaire Li Ka-shing, reported a net loss of C$603 million ($480.32 million), or 65 Canadian cents per share, in the fourth quarter ended Dec 31, compared with a net income of C$177 million, or 18 Canadian cents, a year earlier.

The company took a non-cash charge of C$622 million related to the impairment of mature assets in Western Canada. ($1 = C$1.2554 ) (Reporting by Sneha Banerjee and Nia Williams; Editing by Don Sebastian)