Cenovus says reduced its 2020 capital spending guidance by $600 mln at midpoint of range

Cenovus reports first-quarter 2020 results.cenovus energy inc - reduced its 2020 capital spending guidance by $600 million at midpoint of range.cenovus energy inc - lowered its forecast operating costs for year by approximately $100 million compared with its original 2020 budget.cenovus energy inc - temporary suspension of its dividend and deferral of investment decisions on major growth projects.cenovus energy inc - qtrly operating loss per share $0.97.cenovus energy inc - qtrly net loss per share $1.46.cenovus energy inc - qtrly adjusted funds flow loss per share $0.12.cenovus energy inc - actively managing its production levels as market conditions change.cenovus energy inc - currently, cenovus’s oil sands production has been ramped down by about 60,000 barrels per day.cenovus energy inc - has a $4.5 billion committed credit facility.cenovus energy inc - net debt was about $7.4 billion at the end of the first quarter.cenovus energy inc - qtrly total production 482,594 boe/d versus 447,270 boe/d.
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