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Company News

BRIEF-Cenovus Sees Q1 Oil Sands Production Of Between 350,000 And 360,000 Barrels Per Day​

March 22 (Reuters) - Cenovus Energy Inc:

* CENOVUS PROVIDES FIRST-QUARTER OPERATIONAL UPDATE

* CONTINUES TO EXPECT FULL-YEAR OIL SANDS VOLUMES FOR 2018 TO BE WITHIN COMPANY’S GUIDANCE RANGE OF 364,000 TO 382,000 BARRELS PER DAY

* CENOVUS ENERGY-CO CONTINUES TO EXPECT FULL-YEAR OIL SANDS VOLUMES FOR 2018 TO BE WITHIN COMPANY’S GUIDANCE RANGE OF 364,000 TO 382,000 BARRELS PER DAY

* CENOVUS ENERGY-EXPECTS Q1 RESULTS WILL BE IMPACTED BY PLANNED MAINTENANCE ACTIVITY UNDERWAY AT CO’S TWO U.S. REFINERIES JOINTLY OWNED WITH PHILLIPS 66

* “HAS BEEN OPERATING ITS OIL SANDS FACILITIES AT REDUCED PRODUCTION RATES”

* CENOVUS ENERGY-OPERATING CHRISTINA LAKE,FOSTER CREEK FACILITIES AT REDUCED PRODUCTION LEVELS SINCE FEB WHILE CONTINUING TO INJECT STEAM AT NORMAL RATES

* “SIGNIFICANT” CAPACITY TO STORE BARRELS IN OIL SANDS RESERVOIRS TO BE PRODUCED AND SOLD AT A LATER DATE

* IN ONGOING DISCUSSIONS WITH RAIL PROVIDERS TO RESOLVE A SHORTAGE OF LOCOMOTIVE HAULING CAPACITY

* CENOVUS ENERGY - TRANSPORTATION CHALLENGES FACED BY INDUSTRY “DEMONSTRATE URGENT NEED FOR APPROVED PIPELINE PROJECTS IN CANADA TO PROCEED”

* SHORTAGE OF LOCOMOTIVE HAULING CAPACITY PREVENTING CO FROM “FULLY REALIZING BENEFITS” OF ITS BRUDERHEIM CRUDE-BY-RAIL FACILITY

* ANTICIPATES Q1 OIL SANDS PRODUCTION OF BETWEEN 350,000 AND 360,000 BARRELS PER DAY Source text for Eikon: Further company coverage:

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