Husky Energy Inc, Canada's No.3 integrated oil company, swung to a quarterly loss due to a C$3.8 billion ($2.9 billion) after-tax impairment charge.
The company said it has cut about 1,400 jobs till the end of the third quarter ended Sept. 30 and that it also wrote down C$167 million related to legacy oil and natural gas assets in Western Canada.
Husky reported a net loss of C$4.1 billion, or C$4.19 per share, for the third quarter, compared with a profit of C$571 million, or 52 Canadian cents per share, a year earlier. It also posted a profit in the second quarter.
Reporting by Nia Williams and Shubhankar Chakravorty