Cenovus Energy reports Q4 results

Cenovus Energy, Canadian based oil company, announced its fourth quarter operating earnings at $140 mn/$0.19 per share as against $169 mn /$0.23 per share last year. Also, cash flow during the period advanced to $648 mn from $235 mn reported in the previous year. Besides, proved bitumen reserves at till Dec'10 were 1.2 bn barrels (bbls), rising by 33% over 2009. Further, best estimate bitumen economic contingent resources in Q4 were 6.1 bn bbls, 13% rise over a year ago. Moving on, the Board of Directors has declared a first quarter dividend of $0.20 per share, payable on March 31, 2011, to its shareholders.

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