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BRIEF-Cenovus Reports Fourth Quarter 2018 Results

Published 2019-02-13, 06:12 a/m
© Reuters.  BRIEF-Cenovus Reports Fourth Quarter 2018 Results
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Feb 13 (Reuters) - Cenovus Energy Inc CVE.TO :

* CENOVUS DELIVERS STRONG OPERATING PERFORMANCE IN 2018

* CENOVUS ENERGY INC - REDUCED GROSS DEBT BY 16% OR US$1.2 BILLION DURING Q4 OF 2018 AND JANUARY OF THIS YEAR

* CENOVUS ENERGY INC - QTRLY OPERATING LOSS PER SHARE $1.36

* CENOVUS ENERGY INC - RECENTLY INCREASED ITS COMMITTED CAPACITY ON PROPOSED KEYSTONE XL PIPELINE FROM 50,000 BBLS/D TO 150,000 BBLS/D

* CENOVUS ENERGY INC SAYS QTRLY TOTAL OIL PRODUCTION FROM CONTINUING OPERATIONS WAS 432,713 BOE/D, DOWN 10 PERCENT

* CENOVUS ENERGY INC - QTRLY TOTAL PRODUCTION FROM CONTINUING OPERATIONS 432,713 VERSUS BOE/D 480,497 BOE/D

* CENOVUS ENERGY INC SAYS QTRLY TOTAL NATURAL GAS PRODUCTION 469 MMCF/D, DOWN 9 PERCENT

* CENOVUS ENERGY INC QTRLY ADJUSTED FFO LOSS PER SHARE $0.03

* CENOVUS ENERGY INC - FOR 2019, ANTICIPATES FINANCIAL IMPACT OF CURTAILED VOLUMES WILL BE MORE THAN OFFSET BY AN EXPECTED IMPROVEMENT IN WCS PRICES

* CENOVUS ENERGY INC - EXPECTS TO RAMP UP ITS RAIL CAPACITY TOWARDS 100,000 BBLS/D THROUGH REMAINDER OF 2019

* CENOVUS ENERGY - WILL ONLY CONSIDER PURSUING ADDITIONAL TRANSACTIONS IN DEEP BASIN IN 2019 IF CO IS ABLE TO GENERATE STRONG VALUE FOR ASSETS INVOLVED

* CENOVUS ENERGY - Q4 2018 RESULTS WERE ALSO NEGATIVELY IMPACTED BY TIMING OF CONDENSATE, REFINERY INVENTORY DRAWDOWNS IN FALLING COMMODITY PRICE ENVIRONMENT

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