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Energy

Diamondback Energy posts third straight quarterly loss

Nov 2 (Reuters) - Oil and gas producer Diamondback Energy Inc posted a third straight quarterly loss on Monday, hit by a $1.45 billion impairment charge related to lower oil prices as the COVID-19 pandemic hammered demand for fuel and dented crude prices.

The company’s net loss was $1.11 billion, or $7.05 per share, for the third quarter ended Sept. 30, compared to a profit of $368 million, or $2.26 per share, a year earlier. (Reporting by Rithika Krishna; Editing by Shounak Dasgupta)

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