Cenovus Energy, Inc. (CVE) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

July 27, 2023 11:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, ladies and gentlemen, and thank you for standing by. Welcome to Cenovus Energy's Second Quarter Results. As a reminder, today's call is being recorded. [Operator Instructions]. I would now like to turn the conference over to Mr. Jason Abbate, Senior Vice President, Investor Relations. Please go ahead, Mr. Abbate.

Jason Abbate

Thank you, operator, and welcome, everyone, to Cenovus' 2023 Second Quarter Results Conference Call. Please refer to the advisories located at the end of today's news release. Please describe the forward-looking information, non-GAAP measures and oil and gas terms referred to today. They also outline the risk factors, assumptions relevant to these discussions. Additional information is available on 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. John McKenzie, our President and Chief Executive Officer, will provide brief comments, and then we'll take your questions. We ask that you hold off on any detailed modeling questions. You can follow up on those directly with our Investor Relations team after the call.

And then please keep to 1 question with a maximum of 1 follow-up. You're welcome to rejoin the queue for any other follow-up questions you may have. John, please go ahead.

Jonathan McKenzie

Great. Thank you, Jason, and good morning, everyone. Before we start, you will have seen a few changes to our executive team that we announced this morning. When I succeeded Alex in April, it did create an opportunity for us to move some of the executive group around to really take advantage of their capabilities and versatility. You can read the full details in our news release.

However, I'd just like to snap you through a few of the changes. Keith Chiasson will become our new Chief Operating Officer and replacing Keith in the downstream will be Doreen Cole, who's been promoted to the position of Executive Vice President, Downstream. Drew Zieglgansberger will become our new Chief Commercial Officer; and Andrew Dahlin will replace Drew as the Executive Vice President of Natural Gas and Technical Services. Jeff Hart, who's currently our Chief Financial Officer, will succeed Andrew as the Executive Vice President of Corporate and Operations Services. And finally, Kam Sandhar will replace Jeff as our new Chief Financial Officer.