Cenovus says expenses to be at low end of 2015 forecast

Wed Apr 29, 2015 6:19am EDT
 
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April 29 - Cenovus Energy Inc, Canada's No.2 independent oil producer, said it expects operating expenses to be at the near the low end of its forecast range for 2015.

The company reported a net loss of C$668 million ($554 million), or 86 Canadian cents per share, for the first-quarter ended March 31, compared with profit of C$247 million, or 33 Canadian cents per share, a year earlier.

The company said the net loss was partly due to non-operating unrealized foreign exchange losses of C$514 million.

($1 = 1.2066 Canadian dollars) (Reporting by Sneha Banerjee in Bengaluru and Scott Haggett in Calgary; Editing by Ted Kerr)