Cenovus energy to reduce its 2020 capital spending by an additional $150 mln

Cenovus energy provides corporate update.cenovus energy inc - decided to reduce its planned 2020 capital spending by an additional $150 million.cenovus energy inc - forecasting operating cost reductions of about $100 million and g&a cost reductions of about $50 million versus december budget.cenovus energy inc - temporarily suspending its dividend.cenovus energy inc - new capital expenditure guidance of $750 million to $850 million is a 43% reduction from budget released in december 2019.cenovus energy inc - decision has been made to roll back salaries across company.cenovus energy inc - effective may 1, 2020, board members will receive a 25% compensation reduction.cenovus energy - ceo will have annual base salary reduced by 25%, other executive team members will take 15% annual base salary reduction.
CVE Ratings Summary
CVE Quant Ranking