Cenovus Energy Inc. (CVE) Q3 2022 Earnings Call Transcript

Cenovus Energy Inc. (NYSE:CVE) Q3 2022 Earnings Conference Call November 2, 2022 11:00 AM ET

Company Participants

Sherry Wendt - Vice President, Investor Relations

Alex Pourbaix - President & Chief Executive Officer

Keith Chiasson - Executive Vice President Downstream

Rhona DelFrari - Chief Sustainability Officer

Jeffrey Hart - Executive Vice President & Chief Financial Officer

Norrie Ramsay - Executive Vice President Upstream

Andrew Dahlin - Executive Vice-President, Corporate & Operations Services

Jon McKenzie - Executive Vice President & Chief Operating Office

Conference Call Participants

Greg Pardy - RBC Capital Markets

Menno Hulshof - TD Securities

John Royall - JPMorgan

Dennis Fong - CIBC World Markets

Chris Varcoe - Calgary Herald

Rod Nickel - Reuters

Robert Tuttle - Bloomberg News

Operator

Good day, ladies and gentlemen and thank you for standing by. Welcome to Cenovus Energy’s Third Quarter Results. As a reminder, today’s call is being recorded. At this time, all participants are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. [Operator Instructions] Please be advised that this conference call may not be recorded or rebroadcast without the express consent of Cenovus Energy.

I would now like to turn the conference over to Ms. Sherry Wendt, Vice President, Investor Relations. Please go ahead, Ms. Wendt.

Sherry Wendt

Thank you, operator, and welcome everyone to Cenovus’ 2022 third quarter results conference call. Please refer you to the advisories located at the end of today’s news release. These describe the forward looking information, non-GAAP measures, and oil and gas terms referred to today. They also outline the risk factors and assumptions relevant to this discussion.

Additional information is available in Cenovus’ annual MD&A and our most recent AIF and Form 40-F. All figures are presented in Canadian dollars and before royalties unless otherwise stated.

Alex Pourbaix, our President and Chief Executive Officer will provide brief comments, and then we will take your questions. We ask that you please hold off on any detailed modeling questions. Please follow-up with these -- on those directly with our Investor Relations team after the call. And please also keep to one question with a maximum of one follow-up. You can rejoin the queue for any other questions.

Alex, please go ahead.

Alex Pourbaix

Thanks, Sherry and good morning, everyone. As I do every quarter, I'm going to start this morning's call with our top priority, which is health and safety. In late September, there was a tragic fire at our non-operated joint venture refinery in Toledo. We were devastated to learn about the fatalities of two workers there and our hearts go out to their families and colleagues. This is a heartbreaking reminder that safety must be absolutely fundamental in our business. It is our responsibility as an industry to ensure all our workers who start to shift get home safe every day.