February 15, 2012 / 11:19 AM / 6 years ago

Cenovus 4th-qtr profit jumps on reserves growth

Feb 15 (Reuters) - Cenovus Energy Inc, Canada’s No. 2 independent oil producer, said its fourth-quarter profit more than tripled, helped by substantial reserves and resources growth.

The company, known for its Canadian oil sands production and U.S. refining joint ventures with ConocoPhillips, earned C$266 million ($265.80 million), or 35 Canadian cents a share, up from C$78 million, or 10 Canadian cents a share, a year earlier.

Cash flow, a glimpse into the company’s ability to fund operations, rose about 32 percent to C$851 million, or C$1.12 a share, from C$645 million, or 85 Canadian cents a share.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below