1Q16 cash flow was, as expected, negligible, despite hedging gains, given lowcommodity prices . 2016e capex guidance is now $1.2 billion (previously $1.2-$1.3 billion).Expansion projects remain on track, while Foster Creek’s base operations appear to have turned a corner, again.While cost reduction efforts continue, lease commitments will likely mean that CVE’s G&A costs per boe will remain above average.Year end disclosures suggest that abandonment liabilities may be turning CVE’s gas assets in ....
