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.

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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: Upstream, Downstream, and Corporate and Eliminations. The Upstream segment refers to operations of oil sands, conventional, and offshore. The Downstream segment operates the Canadian and U.S. refining. The Corporate and Eliminations segment includes the corporates costs for general and administrative. The company was founded in 1881 and is headquartered in Calgary, Canada.

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) -- 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

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

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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.

Cenovus and Husky announce leadership team for combined company

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Cenovus Energy's Acquisition Of Husky Makes It A Must-Own In The Energy Sector

Shareholders asked to vote in favour of board-approved agreement to combine businesses Shareholders asked to vote in favour of board-approved agreement to combine businesses

Cenovus and Husky to hold special shareholder meetings on proposed Plan of Arrangement

Lower contributions from oil sands operations hurt Cenovus??? (CVE) third-quarter earnings.

Cenovus (CVE) Gains 33% Even as Q3 Earnings Miss Estimates

CALGARY, Alberta, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE), through a wholly owned partnership, has entered into a definitive agreement to sell its Marten Hills oil assets in northern Alberta to Headwater Exploration Inc. for initial cash and common share equity consideration of approximately $100 million.

Cenovus reaches agreement to accelerate development of its Marten Hills oil assets

Cenovus Energy Inc. (CVE) CEO Alex Pourbaix on Q3 2020 Results - Earnings Call Transcript

The chief executive of Cenovus Energy said he is confident shareholders will approve its acquisition of rival Husky Energy, despite big quarterly losses and a stock sell-off.

Cenovus Energy CEO 'not worried' about Husky deal approval as results disappoint

Cenovus (CVE) delivered earnings and revenue surprises of -833.33% and -11.04%, respectively, for the quarter ended September 2020. Do the numbers hold clues to what lies ahead for the stock?

News for Cenovus Energy Stock (CVE)