Cenovus Energy, Inc. (CVE) Tops Q2 EPS by 14c

Cenovus Energy, Inc. (NYSE: CVE) reported Q2 EPS of $0.62, $0.14 better than the analyst estimate of $0.48.

Quarter highlights:

• Combined oil sands production at Foster Creek and Christina Lake averaged almost 125,000 barrels per day (bbls/d) net in the second quarter, up 33% from a year earlier.
• Production at Christina Lake averaged nearly 68,000 bbls/d net in the second quarter, an increase of 77% when compared with the same period a year earlier as phase E reached its design capacity.
• Foster Creek production averaged almost 57,000 bbls/d net in the quarter, an increase of 3% from the second quarter of 2013.
• Steaming at Foster Creek's phase F expansion began in May.
• Cenovus generated nearly $1.2 billion in cash flow, a 37% increase when compared with the same period in 2013 due to increased production and higher commodity prices.

For earnings history and earnings-related data on Cenovus Energy, Inc. (CVE) click here.

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