Cenovus Energy (CVE) Tops Q3 EPS by 14c

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Go back to Cenovus Energy (CVE) Tops Q3 EPS by 14c

Cenovus delivers strong operational performance in 2016

February 16, 2017 6:00 AM EST

CALGARY, AB -- (Marketwired) -- 02/16/17 -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered strong, safe and reliable operating performance in 2016. The company increased its oil sands production compared with 2015 and achieved further cost efficiencies, including decreased operating and general and administrative (G&A) expenses as well as lower oil sands sustaining capital costs. The sustaining capital improvements have contributed to lower future development costs for Cenovus's oil sands business.

"Our operations performed exceptionally well in 2016, and we remained financially resilient through a difficult macro... More