Cenovus Energy reports Q2 EPS 45c vs. 53c last year

Reports Q2 revenue $12.3B vs. $13.3B in the previous quarter. Total upstream production was 765,900 BOE/d. “Operating performance this quarter was exceptional, with turnaround execution exceeding our targets, major project milestones achieved on time and on budget, and our staff safely and efficiently restoring Christina Lake production following disruption from a wildfire,” said Jon McKenzie, CEO. “Through the hard work and determination of our people, we have arrived at an inflection point, nearing completion of numerous growth projects and successfully concluding significant maintenance events. As investment in these initiatives is completed, we expect to generate increasing free funds flow.”