Cenovus Energy gains on higher production outlook as quarterly profit more than triples
CVE•Quarterly profit rises on higher upstream production
** Shares of Canadian oil sands producer Cenovus Energy CVE.TO up 6% at C$29.28
** Co posts rise in second-quarter profit, helped by higher upstream production
** Net income rises to C$2.87 billion ($2.04 billion), or C1.53 per share, in the three months ended June 30, from C$851 million, or 45 Canadian cents per share a year earlier
** Total upstream production was 970,400 barrels of oil equivalent per day (boepd) in the second quarter, up from 765,900 boepd a year earlier
** Increases full-year upstream production forecast by 25,000 boepd to between 970,000 and 1.01 million boepd
** Including session's moves, CVE up 72.65% YTD
($1 = 1.4102 Canadian dollars)
(Reporting by Pranav Mathur and Dharna Bafna in Bengaluru)
