Operational Updates | Quarterly / Earnings Reports | Third Quarter (3Q) Update | Financial Results | Capital Markets | Capital Expenditure | Capex Decrease | Capital Expenditure - 2017
Cenovous Chops $100MM from 2017 Capex After Q3 Loss
Cenovus reported its Q3 2017 results.
Highlights:
- Increased third quarter cash from operating activities and adjusted funds flow by
- 91% and 133% respectively, compared with the same period in 2016
- Recorded a net loss of $69 million, a 73% improvement over Q3 2016
- Retired $950 million of the company’s $3.6 billion asset-sale bridge facility
- Reduced planned 2017 capital spending guidance by $100 million to $1.6 billion at the midpoint with no expected impact to production in core areas
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