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BRIEF-Cenovus Reduces 2019 Capital Budget Guidance

Published 2019-10-02, 07:41 a/m
© Reuters.  BRIEF-Cenovus Reduces 2019 Capital Budget Guidance
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Oct 2 (Reuters) - Cenovus Energy Inc CVE.TO :

* CENOVUS POSITIONED FOR $11 BILLION OF CUMULATIVE FREE FUNDS FLOW THROUGH 2024

* CENOVUS ENERGY INC - CENOVUS HAS REDUCED ITS 2019 CAPITAL BUDGET GUIDANCE TO BETWEEN $1.1 BILLION AND $1.2 BILLION

* CENOVUS ENERGY INC - CUMULATIVE FREE FUNDS FLOW OF APPROXIMATELY $11 BILLION THROUGH 2024

* CENOVUS ENERGY INC - INCREASING TOTAL VOLUMES TO ABOUT 550,000 BARRELS OF OIL EQUIVALENT PER DAY (BOE/D) BY END OF 2024

* CENOVUS ENERGY INC - CENOVUS IS ANNOUNCING A 25% DIVIDEND INCREASE

* CENOVUS ENERGY INC - BELIEVES IT WILL HAVE CAPACITY FOR FURTHER DIVIDEND INCREASES AT POTENTIAL GROWTH RATE OF 5% TO 10% ANNUALLY

* CENOVUS ENERGY INC - FOR Q4 OF 2019, BOARD OF DIRECTORS HAS DECLARED A DIVIDEND OF $0.0625 PER SHARE

* CENOVUS ENERGY INC - CONTINUES TO PROGRESS TOWARD ITS LONG-TERM NET DEBT TARGET OF $5 BILLION

* CENOVUS ENERGY INC - CENOVUS'S STRATEGY THROUGH 2024 WILL FOCUS ON SUSTAINABLY GROWING SHAREHOLDER RETURNS AND FURTHER REDUCING NET DEBT

* CENOVUS ENERGY INC - CENOVUS'S PLANNED CAPITAL PROFILE REMAINS VERY MODEST, NOT EXCEEDING $1.9 BILLION IN ANY GIVEN YEAR

* CENOVUS ENERGY INC - REMAINS ON TRACK TO RAMP UP ITS CRUDE-BY-RAIL CAPACITY TO APPROXIMATELY 100,000 BBLS/D BY END OF 2019.

* CENOVUS ENERGY INC - EXPLORING POTENTIAL TO BUILD A DILUENT RECOVERY UNIT (DRU) AT ITS BRUDERHEIM TRANSLOADING TERMINAL IN ALBERTA

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