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Cenovus Energy Inc (CVE) Q2 2021 Earnings Call Transcript

Cenovus Energy Inc (CVE) Q2 2021 Earnings Call Transcript
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Cenovus Energy Inc. (CVE) Q1 2021 Earnings Call Transcript

Cenovus Energy Inc. (CVE) Q1 2021 Earnings Call Transcript
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Cenovus Energy Inc. (NYSE: CVE)
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Operator
Good day, ladies and gentlemen, and thank you for standing by. Welcome to Cenovus Energy s First Quarter Results. [Operator Instructions] Please be advised that this conference call may not be recorded or rebroadcast without expressed consent of Cenovus Energy.
I would now like to turn the call over to Ms. Sherry Wendt, Vice President, Investor Relations. Please go ahead, Ms. Wendt.SPONSORED:
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Cenovus makes strong progress on Husky integration and synergies

469,100
112
1 Comparative figures include Cenovus results prior to the January 1, 2021 closing of the Husky transaction and do not reflect historical data from Husky.
2 Adjusted funds flow, free funds flow and net debt are non-GAAP measures. See Advisory.
3 Prior period has been restated to conform with the current period definition of adjusted funds flow.
Q1 overview
Progress on integration and synergies
Cenovus is in the process of reassessing the acquired Husky assets for synergies above and beyond the company s original $1.2 billion target. This includes opportunities to apply Cenovus s in situ operating expertise to Husky s legacy in situ assets in Alberta and Saskatchewan. Application of these operating practices drove record average daily production in the quarter at Cenovus s Lloydminster thermal business, including a single-day production record of approximately 103,000 barrels per day (bbls/d) in March. ....

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