• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Oil Market Data
    • Canada NG Market Data
    • USA Market Data
    • Data Downloads
  • Jobs

Cenovus Energy reports $220M first-quarter profit compared with a loss a year ago

May 7, 20215:07 AM The Canadian Press0 Comments

CALGARY – Cenovus Energy Inc. reported a profit of $220 million in its latest quarter compared with a loss of $1.8 billion a year ago.

The energy company says the profit amounted to 10 cents per share for the quarter ended March 31 compared with a loss of $1.46 per share in the first three months of 2020.

Revenue totalled $9.15 billion, up from $3.96 billion in the same quarter last year before the company acquired Husky Energy Inc.

Upstream production was 769,254 barrels of oil equivalent per day, up from 482,594 boepd a year ago, while downstream throughput was 469,100 barrels per day, up from 221,100 bpd in the same quarter last year.

Cenovus says it had $245 million in one-time integration costs in the quarter related to its acquisition of Husky and that total integration costs for the year are expected to be within the anticipated $500 million to $550 million range.

It says it completed two-thirds of its planned workforce reductions in the first quarter, with the rest expected later in the year and into 2022 as integration projects wrap up.

 

Cenovus Husky Energy

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • U.S. Gulf Coast crude oil exports to touch record high this quarter
  • G7 seeks to curb Russian oil income through price cap
  • U.S. natgas futures slip 2% to fresh 11-week low on rising output
  • New campaign urges G7 leaders to address energy crisis by telling Canada to step up and develop our resources
  • Prairie Provident announces new board member

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView

    Report Error





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2022 Grobes Media Inc.