Pengrowth Energy Slips To Loss In Q2

(RTTNews) - Canada-based oil and gas producer Pengrowth Energy Corp. (PGH, PGF.TO) Thursday posted second-quarter net loss of $53.3 million or $0.10 per share, compared to net income of $36.8 million or $0.09 per share in the previous year period.

Funds Flow from Operations were $146 million or $0.28 per share, up from $94 million or $0.23 per share in the comparable quarter last year.

Adjusted net loss for the latest second quarter was $37.2 million, narrower than $89.6 million in the prior year quarter, primarily due to the absence of impairment charges and an increase in Funds Flow from Operations, partly offset by disposition losses and an increase in the depletion, depreciation and amortization expense.

Oil and gas sales for the second quarter of 2013 were $405 million, compared with $328 million in the year-ago period.