Cenovus Energy

Cenovus Energy, Inc. engages in provision of gas and oil. Its activities include development, production, and marketing of crude oil, natural gas liquids (NGLS), and natural gas in Canada. The firm operates through four segments: Oil Sands, Conventional, Refining & Marketing, and Corporate & Eliminations. The Oil sands segment includes the development and production of bitumen in northeast Alberta including Foster Creek, Christina Lake and Narrows Lake as well as projects in the early stages of development. The Conventional segment includes includes land primarily in the Elmworth-Wapiti, Kaybob-Edson, and Clearwater operating areas. The Refining and Marketing segment provides transportation and selling of crude oil, natural gas and NGLS. The Corporate and Eliminations segment includes unrealized gains and losses recorded on derivative financial instruments, divestiture of assets, as well as other administrative, financing activities and research costs. The company was founded in 1881 and is headquartered in Calgary, Canada.

Earnings data Q2 2023

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Cenovus Energy, Inc. is a Canadian-based integrated energy company, which engages in the provision of gas and oil. It operates through the following segments: Oil Sands, Conventional, Offshore, Canadian Manufacturing, U.S. Manufacturing, and Corporate and Eliminations. The Oil Sands segment is involved in the development and production of bitumen and heavy oil in northern Alberta and Saskatchewan. The Conventional segment includes assets rich in NGLs and natural gas within the Elmworth-Wapiti, Kaybob-Edson, Clearwater and Rainbow Lake operating areas in Alberta and British Columbia and interests in numerous natural gas processing facilities. The Offshore segment operates, explore, and develop activities in China and the East Coast of Canada, as well as the equity-accounted investment in the Husky-CNOOC Madura Ltd. (HCML) joint venture in Indonesia. The Canadian Manufacturing segment owns and operates Lloydminster upgrading and asphalt refining complex, which converts heavy oil and bitumen into synthetic crude oil, diesel, asphalt, and other ancillary products. The U.S. Manufacturing segment consists of refining of crude oil to produce gasoline, diesel, jet fuel, asphalt, and other products at the wholly-owned lima Refinery and Superior Refiner, the jointly-owned Wood River and Borger refineries and the jointly-owned Toledo Refinery. The Corporate and Eliminations segment refers to the Cenovus-wide costs for general and administrative, financing activities, gains, and losses on risk management for corporate related derivative instruments and foreign exchange. The company was founded in 1881 and is headquartered in Calgary, Canada.

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Cenovus (CVE) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.

Why Cenovus (CVE) Stock Might be a Great Pick

The merger gives management a lot of work to do fast.

Cenovus Energy: Financial Reasons For Merger

CALGARY, Alberta, March 01, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is providing notice the company does not intend to exercise its right to redeem its Cumulative Redeemable First Preferred Shares, Series 1 (Series 1 Shares) and Cumulative Redeemable First Preferred Shares, Series 2 (Series 2 Shares) on March 31, 2021. As a result, subject to certain conditions:

Cenovus provides Series 1 and Series 2 First Preferred Shares conversion privilege notice, Series 1 and Series 2 First Preferred Shares dividend rate notice

The Cenovus preferred shares have been a big winner in my portfolio since November when I originally recommended them. The deal has closed and the Husky preferreds have converted to Cenovus.

Taking Profits On Cenovus Preferred Shares, As Better Returns Now Appear Elsewhere

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Lower contributions from oil sands operations hurt Cenovus Energy's (CVE) Q4 earnings.

Cenovus Energy (CVE) Q4 Earnings Lag, '21 Capital Budget Set

CALGARY, Alberta, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) responded to extreme oil price volatility in 2020 by quickly reducing capital spending as well as strategically managing oil sands production and purchasing curtailment credits to achieve increased output when prices were more favourable. The company generated positive free funds flow in the fourth quarter, partially offsetting the impact of low oil prices on its full-year results. Cenovus's planned combination with Husky Energy, announced in the fourth quarter, closed January 1, 2021. The company exited 2020 with net debt of $7.2 billion.

Cenovus reports 2020 fourth-quarter and full-year results

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CALGARY, Alberta, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has delivered a disciplined 2021 capital budget focused on maintaining safe and reliable operations while positioning the company to drive enhanced shareholder value. The budget includes sustaining capital of approximately $2.1 billion to deliver upstream production of approximately 755,000 barrels of oil equivalent per day (BOE/d) and downstream throughput of approximately 525,000 barrels per day (bbls/d).

2021 budget to achieve nearly $1 billion of synergies in first year

The new Cenovus has many advantages. In this article, we will discuss the key ones we see playing a role in the company's fortunes in 2021 and beyond.

Cenovus Energy: A Heavy Oil Juggernaut

CALGARY, Alberta, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will release its planned 2021 capital expenditure and production guidance on Thursday, January 28, 2021.

Cenovus to announce 2021 budget and production forecast

Cenovus Energy's (CVE) strategic acquisition of Husky Energy has created the third-biggest energy producer in Canada.

Cenovus (CVE) Jumps 61.4% in 3 Months: More Room to Run?

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Cenovus (CVE) expects the combined entity to have a production capacity of 750,000 Boe/d.

Cenovus (CVE) Closes All-Stock Merger Deal With Husky Energy

CALGARY, Alberta, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Husky Energy is pleased to announce the transaction to strategically combine with Cenovus Energy has closed.

Transaction to combine Husky and Cenovus closes

CALGARY, Alberta, Jan. 04, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is pleased to announce that its strategic combination with Husky Energy Inc. has closed. The transaction creates a resilient integrated energy leader that is well positioned to provide superior returns for investors over the long term, as well as strong environmental, social and governance (ESG) performance.

Cenovus closes transaction to combine with Husky

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Big energy companies, such as Chevron (CVX), Pioneer Natural (PXD), ConocoPhillips (COP), Cenovus Energy (CVE) and Devon Energy (DVN) recently acquired smaller firms with attractive asset bases.

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Transaction scheduled to close January 1 Transaction scheduled to close January 1

Strategic combination plan receives all key regulatory approvals

Cenovus' (CVE) merger deal with Husky Energy has been approved by shareholders of both companies to generate yearly savings of $1.2 billion.

Cenovus (CVE) Receives Shareholder Approval for Husky Takeover

CALGARY, Alberta, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and Husky Energy Inc. (TSX: HSE) are pleased to announce the Court of Queen's Bench of Alberta has issued a final order approving the previously announced Plan of Arrangement to combine the two companies. The court's approval follows separate votes held on December 15, 2020 in which Cenovus common shareholders and Husky common shareholders, optionholders and preferred shareholders supported the proposed transaction to combine the two companies into a resilient integrated energy leader.

Cenovus and Husky announce Court of Queen's Bench approval of proposed business combination

Cenovus (CVE) announces the completion of its Martin Hills asset sales to Headwater in a deal worth C$100 million.

Cenovus (CVE) Wraps Up Divestment of Martin Hills Oil Assets

CALGARY, Alberta, Dec. 02, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) and Headwater Exploration Inc. (TSX:HWX) are pleased to announce the closing of the acquisition by Headwater of Cenovus's assets in the Marten Hills area of Alberta. Pursuant to the transaction, Headwater acquired a 100% working interest in approximately 2,800 barrels per day of medium gravity oil production and 270 net sections of Clearwater rights.

Sale of Cenovus's Marten Hills oil assets to Headwater Exploration closes

This announcement will combine excess refining capacity with excess production capacity. It also gives the Husky refineries access to lower-cost Cenovus feedstock.

Cenovus Energy Hits A Homerun With Husky Deal

CALGARY, Alberta, Nov. 20, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and Husky Energy Inc. (TSX: HSE) are pleased to announce the executive leadership team that is expected to lead the combined company created through the strategic combination of Cenovus and Husky announced on October 25, 2020.

News for Cenovus Energy Stock (CVE)