Cenovus Energy’s net income fell to $820-million, or 42 cents per share, in the three months ended Sept. 30, from $1.86-billion, or 97 cents per share, a year earlier
posted a 56 per cent slump in third-quarter profit on Thursday due to a decline in production and throughput volumes following oil sands and U.S. refinery maintenance, as well as lower commodity prices.
The company shuttered an estimated 42,000-47,000 bpd of upstream production in the third quarter, compared with 11,000-14,000 bpd in the previous three months. CEO Jon McKenzie said completing the turnarounds puts Cenovus in a position to boost its performance over the rest of the year and into 2025 and the company was making progress on optimizing oil sands production at its Sunrise and Foster Creek projects.
Oil Bpd Production Company Cent Quarter Cenovus Share Toronto Stock Exchange Lima Alberta
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