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Cenovus looks to offload office space as oil slump drags on Add to ...

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Cenovus Energy Inc. is shopping for replacement tenants to fill unused office space and is now expected to occupy just half of what it agreed to in the new Brookfield Place Calgary tower, sources say.

It’s the latest sign that cash-strapped energy companies are looking beyond field operations for cost savings as oil markets sputter. Major producers have already clawed back dividends and spending levels, and are now reassessing lease agreements signed when the industry was in expansion mode.

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