Canada’s Husky Energy posted a smaller quarterly loss from a year ago, when it had incurred an impairment charge.
The Calgary-based company posted a loss of C$69million for the fourth quarter ended December 31, compared with a loss of C$603 million, a year earlier.
The year-ago quarter included a non-cash charge of C$622million related to the impairment of mature assets in western Canada.
“Our continuing structural transformation over the past five years into a lower sustaining capital business is setting the foundation for the Company to continue to improve its resilience through this extended period of commodity price turmoil,” said chief executive Asim Ghosh.