Cenovus Energy Inc. says it lost $69 million in its latest quarter as it more than doubled its production compared with a year ago, boosted by its acquisition of most of the Canadian assets of ConocoPhillips earlier this year. The company says the loss amounted to six cents per share for the quarter ended Sept. 30 compared with a loss of $251 million or 30 cents per share in the same quarter last year. Cenovus acquired of most of the Canadian assets of Houston-based ConocoPhillips in May. Cenovus announced earlier this week that Alex Pourbaix would become its new president and chief executive starting on Nov. 6. The former TransCanada Corp. executive will replace Brian Ferguson, who is retiring after 33 years with Cenovus and its predecessor companies.

Source: CBC News November 02, 2017 13:18 UTC