The Financial Post reports in its Friday edition the collapse in oil prices has hit Pengrowth Energy with almost $1-billion in non-cash charges in the fourth quarter. The Post's Geoffrey Morgan writes Pengrowth posted Thursday an adjusted net loss of $854-million in the fourth quarter, compared with an adjusted net loss of $37-million in the same quarter the year before. On a net basis, the loss was $506-million, compared with a loss of $91-million a year earlier. It attributed the loss to $994-million in charges, including a $451-million writedown in the book value of the company's assets. Pengrowth president and CEO Derek Evans said the company had slashed its 2015 capital program, deferred spending on the second phase of its Lindbergh oil sands project and cut its dividend in half. West Texas Intermediate benchmark fell Thursday $2.82 (U.S.) to $48.17 (U.S.) per barrel, which is less than half of the commodity's price from June, 2014. Pengrowth said it had hedged roughly 75 per cent of its estimated oil production in 2015 at $93.96 (U.S.) per barrel and 54 per cent of its estimated gas production for the year at $3.73 (U.S.) per million cubic feet. Pengrowth closed Thursday at $4, down 22 cents.