Canada's Encana posts quarterly loss due to $1.3 bln charge

Fri Jul 24, 2015 6:15am EDT
 
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July 24 (Reuters) - Encana Corp , Canada's largest natural gas producer, posted a second-quarter loss, compared with a year-ago profit, hurt by an impairment charge of about $1.3 billion.

The Calgary-based company reported a net loss of $1.61 billion for the quarter ended June 30, compared with a year-ago profit of $271 million.

Encana's operating loss, which excludes most one-time items, was $167 million, or 20 cents per share, compared with a profit of $171 million, or 23 cents a year earlier. The loss was partly due to increased production while oil and gas prices remained weak. (Reporting by Shubhankar Chakravorty in Bengaluru; Editing by Savio D'Souza)