Cenovus Energy (CVE) Q1 2020 Earnings Call Transcript

Cenovus Energy (CVE) Q1 2020 Earnings Call Transcript

[Operator instructions] Please be advised that this conference call may not be recorded or rebroadcast without the express consent of Cenovus Energy.. We would also ask that you keep to one question with a maximum of one follow-up question, and then rejoin the queue for any other questions.. I expect you've all seen our news release this morning, so I'm not going to spend a lot of time walking through the numbers.. I do want to provide you with some color on what's behind the financial results we reported this morning, and I want to talk about how Cenovus is positioned to navigate through the rest of this current downturn, what I think our potential is over the longer term.. Over the last few years, we've been relentlessly focused on paying down debt, reducing costs and maintaining capital discipline.. After that, our focus remains on preserving our balance sheet, maintaining liquidity and continuing to manage our business to drive our cash flow breakevens as low as we can.. It has also resulted in a number of temporary impacts to our financial results.. While we can't influence the macroeconomic environment, there's plenty we can do to protect our balance sheet during