Repsol Oil & Gas Can 1st Quarter Results
May 15 2017 - 1:00AM
UK Regulatory
TIDMAN26
Calgary, May 12, 2017
Repsol Oil & Gas Canada Inc. Files Financial Statements
CALGARY, Alberta, May 12, 2017 - Repsol Oil & Gas Canada
Inc. (the "Company") has filed its interim financial statements and
related management's discussion and analysis for the first quarter
of 2017.
The Company has also filed restated financial statements and
related management's discussion and analysis for the year ended
December 31, 2016 to adjust the accounting for a transaction with
an affiliate in the Repsol Group. This transaction involved the
sale by one of the Company's subsidiaries of a non-controlling
interest in another subsidiary to an affiliate of the Company which
occurred in late 2016. The accounting adjustments resulted in a
reduction in the Company's net loss for the year ended December 31,
2016 by $228 million. The adjustments do not impact the Company's
reported cash flows. The restatement is solely as a result of a
review of the particular transaction and the changes needed to
properly account for it.
The Company´s above-mentioned restatement does not have any
impact on the consolidated financial disclosures of Repsol,
S.A.
About Repsol Oil & Gas Canada Inc.
Repsol Oil & Gas Canada Inc. is an upstream oil and gas
company incorporated in Canada and is a wholly-owned subsidiary of
the Spanish integrated energy company Repsol, S.A.
For media and general inquiries, please contact:
Mila ViorExternal Affairs and Communications, North
AmericaPhone: 403-922-0679Email: Infocanada@repsol.com
View source version on businesswire.com:
http://www.businesswire.com/news/home/20170514005029/en/
This information is provided by Business Wire
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May 15, 2017 02:00 ET (06:00 GMT)
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