Oil producer Penn West has cut its dividend from 3 cents per share to 1 cent amid falling revenues; losses widened to $1.77 billion in the last quarter of 2014.
Oil producer Penn West has cut its dividend from 3 cents per share to 1 cent amid falling revenues; losses widened to $1.77 billion in the last quarter of 2014. Cash flow was also tighter and the firm has reached an agreement in principal with bond holders to allow the firm more flexibility.
