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 Q1 2021

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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.

Cenovus (CVE) cites that about 20,000-Boe/d Rainbow Lake operations are expected to restart production in 7-10 days.

Cenovus (CVE) Resumes Wildfire-Impacted Production in Alberta

Canada's Cenovus Energy Inc said on Monday it had restarted about 62,000 barrels of oil equivalent per day (boepd) of production after shutdowns in May due to wildfires in Alberta.

Cenovus Energy restarts 62,000 boepd wildfire-impacted production

CALGARY, Alberta, June 05, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has safely restarted approximately 62,000 barrels of oil equivalent per day (BOE/d) of production, from the 85,000 BOE/d impacted in May due to wildfires. Assuming the current wildfire conditions continue, Rainbow Lake operations are expected to return to production within seven to 10 days, which represents approximately 20,000 BOE/d. About 3,000 BOE/d remains offline awaiting power infrastructure to be rebuilt in various remote locations.

Cenovus Energy updates production impact of Alberta wildfires

Cenovus (CVE) reported earnings 30 days ago. What's next for the stock?

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Cenovus Energy is a Canadian oil major with efficient production, substantial oil reserves, and a focus on reducing debt. The company is expected to reach its net debt target by the end of this year, unlocking a wave of cash for shareholders through dividends and potential buybacks.

Cenovus Energy's Shareholder Distributions Are About To Soar

Investors need to pay close attention to Cenovus Energy (CVE) stock based on the movements in the options market lately.

Is the Options Market Predicting a Spike in Cenovus Energy (CVE) Stock?

CALGARY, Alberta, May 10, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced a $200,000 donation to the Canadian Red Cross 2023 Alberta Fires Appeal to help support immediate relief efforts for the people and communities impacted by the ongoing wildfire situation in the province. In addition, the company is matching employees' individual donations to fire relief efforts made through Cenovus Cares, its giving and volunteering program.

Cenovus Energy supports communities impacted by Alberta wildfires

Higher contributions from the Canadian Manufacturing unit and lower expenses for purchased products aid Cenovus' (CVE) earnings in Q1.

Cenovus (CVE) Shares Decline 4.6% Despite Q1 Earnings Beat

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A number of energy companies, including Cenovus Energy CVE and Obsidian Energy OBE, halted some operations due to Alberta wildfires.

Alberta wildfires halt some energy companies' operations

CALGARY, Alberta, May 08, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is providing an update on its Conventional production operations following ongoing wildfire activity in northern Alberta. Fires in the north-central region of the province have led the Government of Alberta to declare a state of emergency and a number of communities are under evacuation orders. With a focus on the safety of its people and integrity of its assets, on May 4, as a precaution, Cenovus began safely and methodically shutting in a number of producing Conventional fields and bringing down processing plants.

Cenovus Energy provides update on production impact of Alberta wildfires

CALGARY, Alberta, April 26, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced that at its annual meeting of shareholders held on April 26, 2023, each of the 13 nominees proposed as Directors and listed in its Management Information Circular dated March 1, 2023 were elected as Directors. The detailed results of the vote are set out below.

Cenovus reports voting results of election of Directors

Cenovus Energy Inc. (CVE) Q1 2023 Earnings Call Transcript.

Cenovus Energy Inc. (CVE) Q1 2023 Earnings Call Transcript

Cenovus Energy (CVE) came out with quarterly earnings of $0.24 per share, beating the Zacks Consensus Estimate of $0.22 per share. This compares to earnings of $0.62 per share a year ago.

Cenovus Energy (CVE) Q1 Earnings Surpass Estimates

CALGARY, Alberta, April 26, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered upstream production in the first quarter of 779,000 barrels of oil equivalent per day (BOE/d)1 and downstream throughput of 457,900 barrels per day (bbls/d). The company generated $1.4 billion in adjusted funds flow and cash used in operating activities was $286 million. First-quarter results reflect lower commodity prices, reduced production in the upstream business and lower operating throughput in the downstream compared with the fourth quarter. Consistent with Cenovus's commitment to shareholders, the Board of Directors approved a 33% increase in the company's base dividend, to $0.56 per share annually starting in the second quarter of 2023.

Cenovus announces 2023 first-quarter results, dividend increase

Cenovus' (CVE) upstream operations are likely to have been affected by declining commodity prices in Q1.

Factors to Note Right Ahead of Cenovus' (CVE) Q1 Earnings

CALGARY, Alberta, April 19, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its first-quarter 2023 results on Wednesday, April 26. The news release will provide consolidated first-quarter operating and financial information. The company's financial statements will be available on Cenovus's website, cenovus.com.

Cenovus to hold first-quarter conference call and webcast, virtual annual meeting of shareholders on April 26

Cenovus (CVE) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Cenovus Energy (CVE) Expected to Beat Earnings Estimates: Can the Stock Move Higher?

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Cenovus Energy Inc. is one of the highest-quality E&Ps in the Canadian oil patch. But its shares have underperformed peers.

Cenovus Energy: Buy This Year's Oil Sands Laggard

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Cenovus Energy Inc. management has tremendously increased the gross income, net income, cash flow, and profitability of the company in general. Industry insiders appear to think the industry is cheap. That is an informed buy signal.

Cenovus: Growth Likely To Continue For Years To Come

March Madness gave way to a banking crisis that shocked the global markets, followed by OPEC+ announcing a surprise cut of ~1.2M barrels of oil per day. Energy was the best-performing sector in 2022, maintaining the title into 2023 with XLE +12% over one year.

Gas Injection: Cenovus And Suncor Erupt

CALGARY, Alberta, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has closed on the transaction to purchase bp's 50% interest in the bp-Husky Toledo Refinery in Ohio, effective today. Cenovus already owned 50% of the facility, and now owns 100% and assumes operatorship. Total consideration for the sale is approximately US$370 million after closing adjustments, including working capital. Cenovus and bp will also enter into a multi-year product supply agreement.

Cenovus closes acquisition of Toledo Refinery

Lower contributions from the Conventional and Offshore units hurt Cenovus' (CVE) earnings in Q4.

News for Cenovus Energy Stock (CVE)