CALGARY — Cenovus Energy Inc. reported its fourth-quarter profit and revenue fell compared with a year ago as it saw lower oil and natural gas prices.
The company says it earned $146 million or seven cents per diluted share for the quarter ended Dec. 31, down from $743 million or 32 cents per diluted share in the final three months of 2023.
Cenovus says its adjusted funds flow amounted to 87 cents per diluted share in its latest quarter, down from $1.08 per diluted share a year earlier.
Revenue totalled $12.8 billion, down from $13.1 billion a year earlier.
Total upstream production for the quarter amounted to 816,000 barrels of oil equivalent per day, up from 808,600 a year earlier.
Downstream throughput amounted to 666,700 barrels per day, up from 579,100 in the fourth quarter of 2023.
