Cenovus Posts $1.36B Q4 Loss

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CBJ — Cenovus Energy reported a $1.36-billion loss in its latest quarter as it faced deep discounts for Western Canadian Select oil.

The loss amounted to $1.10 per share for the quarter ended December 31, compared with a profit of $620 million or 50 cents per share in the last three months of 2017 when its results were boosted by the sale of assets in Alberta and Saskatchewan.

Cenovus had an operating loss from continuing operations of $1.67 billion or $1.36 per share for the quarter compared with an operating loss of $533 million or 43 cents per share a year ago.

@CanBizJournal

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