Cenovus. Photo via The Canadian Press

CALGARY — Cenovus Energy Inc. reported a fourth-quarter loss of $408 million as it took a $1.9-billion one-time non-cash impairment charge related to its U.S. refinery business.

The company, which completed its takeover of Husky Energy at the start of last year, says the loss amounted to 21 cents per share for the quarter ended Dec. 31 compared with a loss of $153 million or 12 cents per share a year earlier.

Revenue for the quarter totalled $13.7 billion, up from $3.5 billion a year earlier and $12.7 billion in the third quarter.

Adjusted funds flow amounted to $1.9 billion or 97 cents per share compared with $333 million or 27 cents per share a year earlier.

Cenovus says upstream production in the fourth quarter rose to 825,300 barrels of oil equivalent per day, compared with 467,200 boepd in the fourth quarter of 2020.

Total downstream throughput for the quarter was 469,900 barrels per day, up from 169,000 a year earlier.

This report by The Canadian Press was first published Feb. 8, 2022.

Companies in this story: (TSX:CVE)

The Canadian Press

News from © The Canadian Press, 2022. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • 0029 Latus Viro updated Latus phone
  • 0031 Lloydminster_Heavy_Oil_Show_2022
    0031 Lloydminster_Heavy_Oil_Show_2022
  • 0027 TED_NA Helium 2021_30
  • 0028 SIMSA_Energy_Forum_2022
  • 0025 Kendalls
  • 0026 Buffalo Potash Quinton Salt
  • 0023 LC Trucking tractor picker hiring mix
  • 0022 Grimes winter hiring
  • 0021 OSY Rentals S8 Promo
  • 0019 Jerry Mainil Ltd hiring dugout
  • 0018 IWS Hiring Royal Summer
  • 0014 Buffalo Potash What if PO
  • 0015 Latus Viro PO Ad 01
  • 0013 Panther Drilling PO ad 03 top drive rigs
  • 0011
  • 0006 JK Junior
  • 0004 Royal Helium PO Ad 02
  • 9001
  • 0002
  • 0001