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BRIEF-Cenovus Says Reduced Its 2020 Capital Spending Guidance By $600 Mln At Midpoint Of Range

Published 2020-04-29, 06:18 a/m
CVE
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April 29 (Reuters) - Cenovus Energy Inc CVE.TO :

* CENOVUS REPORTS FIRST-QUARTER 2020 RESULTS

* CENOVUS ENERGY INC - REDUCED ITS 2020 CAPITAL SPENDING GUIDANCE BY $600 MILLION AT MIDPOINT OF RANGE

* CENOVUS ENERGY INC - LOWERED ITS FORECAST OPERATING COSTS FOR YEAR BY APPROXIMATELY $100 MILLION COMPARED WITH ITS ORIGINAL 2020 BUDGET

* CENOVUS ENERGY INC - TEMPORARY SUSPENSION OF ITS DIVIDEND AND DEFERRAL OF INVESTMENT DECISIONS ON MAJOR GROWTH PROJECTS

* CENOVUS ENERGY INC - QTRLY OPERATING LOSS PER SHARE $0.97

* CENOVUS ENERGY INC - QTRLY NET LOSS PER SHARE $1.46

* CENOVUS ENERGY INC - QTRLY ADJUSTED FUNDS FLOW LOSS PER SHARE $0.12

* CENOVUS ENERGY INC - ACTIVELY MANAGING ITS PRODUCTION LEVELS AS MARKET CONDITIONS CHANGE

* CENOVUS ENERGY INC - CURRENTLY, CENOVUS'S OIL SANDS PRODUCTION HAS BEEN RAMPED DOWN BY ABOUT 60,000 BARRELS PER DAY

* CENOVUS ENERGY INC - HAS A $4.5 BILLION COMMITTED CREDIT FACILITY

* CENOVUS ENERGY INC - NET DEBT WAS ABOUT $7.4 BILLION AT THE END OF THE FIRST QUARTER

* CENOVUS ENERGY INC - QTRLY TOTAL PRODUCTION 482,594 BOE/D VERSUS 447,270 BOE/D

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