July 28, 2016 / 10:20 AM / a year ago

BRIEF-Cenovus Energy reports Q2 loss per share $0.32

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July 28 (Reuters) - Cenovus Energy Inc

* Qtrly loss per share $0.32

* Qtrly operating loss per share $0.05

* Remains on track with its plans to bring on two new oil sands expansion phases and achieve up to $500 million in capital

* Continues to anticipate exiting 2016 with foster creek production above 70,000 bbls/d net

* Production at Cenovus's Foster Creek oil sands project averaged approximately 65,000 bbls/d net in Q2

* Production averaged 64,544 bbls/d net in q2 of 2016, an 11% increase from same period of 2015

* Expects about two-thirds of realized cost reductions achieved since end of 2014 will be sustainable even in higher commodity price environment

* Qtrly total oil production 198,080 bbls/d versus 199,954 bbls/d)

* Q2 loss per share $0.32

* Q2 earnings per share view c$-0.19 -- Thomson Reuters I/B/E/S

* Has strong second-quarter operational performance

* In Q2, cenovus recorded severance costs of approximately $19 million related to its 2016 workforce reductions

* Qtrly operating loss per share $0.05 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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