Cenovus Posts Net Earnings of $1.7B in Second Quarter of 2019

Cenovus Energy is seeing a big profit in the second quarter of 2019.

The oil company released their quarterly report on Thursday which showed they had net earnings of over $1.7 billion from April to June.

This is a major increase year-over-year as they lost $410 million in the same period of 2018.

They’re the second oil company to announce a strong second quarter in as many days.

This after Suncor Energy reported net earnings of $2.72 billion.

Cenovus was also able to produce over 344,000 barrels of oil per day.

This is down from the 389,000 bbls/d they averaged in the same period last year.

Production at their Christina Lake site, south of Fort McMurray, was around 179,000 bbls/d.

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