Cenovus Energy (CVE) Tops Q1 EPS by 25c

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Go back to Cenovus Energy (CVE) Tops Q1 EPS by 25c

Cenovus finishes first quarter with strong balance sheet

April 27, 2016 6:00 AM EDT

Company's 2016 cost-reduction initiatives on target

CALGARY, April 27, 2016 /PRNewswire/ - Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is on track to achieve its previously announced target of reducing planned capital, operating and general and administrative (G&A) spending by up to $500 million compared with its original 2016 budget. Building on the significant cost reductions achieved in 2015, these additional spending cuts are expected to help the company remain financially resilient through this prolonged period of challenging market conditions.

"We continue to make significant structural... More