March 10 (Reuters) - Cenovus Energy Inc CVE.TO :
* REDUCING ITS 2020 CAPITAL SPENDING BY APPROXIMATELY 32% IN ORDER TO MAINTAIN STRENGTH OF ITS BALANCE SHEET
* CO ALSO TEMPORARILY SUSPENDING ITS CRUDE-BY-RAIL PROGRAM AND DEFERRING FINAL INVESTMENT DECISIONS ON MAJOR GROWTH PROJECTS
* CENOVUS ENERGY-CONTINUES TO WORK TOWARD FUNDING REVISED CAPITAL PROGRAM, CURRENT DIVIDEND WITHIN CASH FLOW IN CHALLENGING COMMODITY PRICE ENVIRONMENT
* OIL SANDS PRODUCTION IN 2020 IS NOW EXPECTED TO AVERAGE BETWEEN 350,000 BARRELS PER DAY AND 400,000 BARRELS PER DAY
* CENOVUS - WILL MONITOR MACRO-ECONOMIC AND OIL PRICE ENVIRONMENT & LOOK FOR ADDITIONAL OPPORTUNITIES TO REDUCE OPERATING & CAPITAL SPENDING IF NECESSARY