July 25, 2012 / 10:17 AM / 5 years ago

Encana reports net loss on impairment charge

July 25 (Reuters) - Encana Corp, which faces antitrust investigations following a Reuters report that it colluded with Chesapeake Energy Corp to lower the price of Michigan exploration lands, reported a second-quarter net loss on Wednesday because of a large one-time asset impairment charge.

The company, Canada’s largest natural-gas producer, reported a net loss of $1.5 billion, compared with a year-earlier profit of $383 million.

Operating income, which excludes most one-time items, fell 44 percent to $198 million, or 27 cents a share, from $352 million, or 48 cents a share.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below