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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Earnings Previews: Cenovus Energy, Discovery, Norwegian Cruise Lines

CALGARY, Alberta, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its 2021 third quarter results on Wednesday, November 3. The news release will provide consolidated third quarter operating and financial information. Financial statements will be available that day on Cenovus's website.

Cenovus to hold Q3 conference call and webcast on November 3

Not for distribution to U.S. newswire services or dissemination in the United States

Cenovus and Headwater announce the closing of $227.5 million bought deal secondary offering of Headwater common shares

Cenovus Energy: Bigger, Better And Stronger

Cenovus Energy's (CVE) restructuring of its stakes in the Atlantic region with respective partners in Terra Nova and White Rose projects is likely to improve the company's economics.

Cenovus (CVE) Jumps 30.7% in 6 Months: More Room to Run?

Cenovus and Headwater announce increase to previously announced bought deal secondary offering of Headwater common shares

Cenovus and Headwater announce bought deal secondary offering of Headwater common shares worth approximately $114 million

CALGARY, Alberta, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced the pricing terms of its previously announced cash tender offer (the “Maximum Tender Offer”) for up to an increased maximum aggregate purchase price of $1,250,000,000 (such increased aggregate purchase price, the “Maximum Aggregate Purchase Price”) of its outstanding 3.800% Notes due 2023 (the “2023 Notes”), its outstanding 4.000% Notes due 2024 (the “2024 Notes”), its outstanding 5.375% Notes due 2025 (the “2025 Notes”), its outstanding 4.250% Senior Notes due 2027 (the “2027 Notes”) and its outstanding 4.400% Notes due 2029 (the “2029 Notes” and, together with the 2023 Notes, the 2024 Notes, the 2025 Notes and the 2027 Notes, the “Maximum Tender Offer Notes”). As previously announced, Cenovus has eliminated the Series Tender Cap (as defined in the Offer to Purchase dated September 9, 2021 (the “Offer to Purchase”)) for the 2025 Notes. The terms and conditions of the Maximum Tender Offer are described in the Offer to Purchase.

Cenovus announces the Pricing Terms of its Pending Maximum Tender Offer

CALGARY, Alberta, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced the early tender results of its previously announced cash tender offer (the “Maximum Tender Offer”) and that it has increased the maximum aggregate purchase price for the Maximum Tender Offer from up to a maximum aggregate purchase price of $1,000,000,000 to up to a maximum aggregate purchase price of $1,250,000,000 (such increased aggregate purchase price, the “Maximum Aggregate Purchase Price”) of its outstanding 3.800% Notes due 2023 (the “2023 Notes”), its outstanding 4.000% Notes due 2024 (the “2024 Notes”), its outstanding 5.375% Notes due 2025 (the “2025 Notes”), its outstanding 4.250% Senior Notes due 2027 (the “2027 Notes”) and its outstanding 4.400% Notes due 2029 (the “2029 Notes” and, together with the 2023 Notes, the 2024 Notes, the 2025 Notes and the 2027 Notes, the “Maximum Tender Offer Notes”). Cenovus today also announced that it has eliminated the Series Tender Cap (as defined in the Offer to Purchase dated September 9, 2021 (the “Offer to Purchase”)) for the 2025 Notes. The terms and conditions of the Maximum Tender Offer are described in the Offer to Purchase.

Cenovus announces the Early Tender Results and Increase of its Pending Maximum Tender Offer

CALGARY, Alberta, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced that its previously announced cash tender offer (the “Any and All Tender Offer”) for any and all of its outstanding 3.950% Notes due 2022 (the “3.950% Notes”) and 3.000% Notes due 2022 (the “3.000% Notes” and, together with the 3.950% Notes, the “Any and All Notes”) (CUSIP Nos. 448055AJ2 and 15135UAG4, respectively) expired at 5:00 p.m., New York City time, on September 15, 2021. According to information provided by D.F. King & Co., Inc., the tender and information agent for the Any and All Tender Offer, $252,644,000 aggregate principal amount of the 3.950% Notes and $294,017,000 aggregate principal amount of the 3.000% Notes were validly tendered and not validly withdrawn prior to or at the expiration of the Any and All Tender Offer. This amount excludes $1,273,000 aggregate principal amount of the 3.950% Notes and $29,464,000 aggregate principal amount of the 3.000% Notes tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase, dated September 9, 2021 (the “Offer to Purchase”), and the related notice of guaranteed delivery provided in connection with the Any and All Tender Offer, which remain subject to the holders' performance of the delivery requirements under such procedures. The obligation of Cenovus to accept any Any and All Notes tendered and to pay the consideration for the Any and All Notes is subject to satisfaction or waiver of certain conditions and other terms set forth solely in the Offer to Purchase. If the conditions are satisfied or waived, Cenovus expects to pay for such Any and All Notes on September 16, 2021 (the “Any and All Settlement Date”).

Cenovus announces Expiration and Results of Any and All Tender Offer

CALGARY, Alberta, Sept. 15, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced the pricing terms of its previously announced cash tender offer (the “Any and All Tender Offer”) for any and all of its outstanding 3.950% Notes due 2022 and its outstanding 3.000% Notes due 2022 (collectively, the “Any and All Notes”). The terms and conditions of the Any and All Tender Offer are described in the Offer to Purchase, dated September 9, 2021 (the “Offer to Purchase”). The Any and All Tender Offer will expire at 5:00 p.m., New York City time, today, September 15, 2021, unless extended or earlier terminated.

Cenovus announces the Pricing Terms of its Pending Any and All Tender Offer

CALGARY, Alberta, Sept. 13, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has completed a public offering in the United States (the “Offering”) of US$1,250,000,000 in senior notes, consisting of US$500,000,000 of 2.650% senior unsecured notes due 2032 and US$750,000,000 of 3.750% senior unsecured notes due 2052 (collectively, the “Notes”). The Notes were issued under Cenovus's short form base shelf prospectus dated September 19, 2019 and a prospectus supplement dated September 9, 2021 filed with securities regulatory authorities in Canada and the United States.

Cenovus announces closing of US$1.25 billion offering of senior notes

The restructuring move from Cenovus (CVE) is likely to make its upstream portfolio more profitable and free up some capital, which can be allocated more efficiently toward producing assets.

Cenovus (CVE) Eyes Atlantic Assets Rejig, $10B Net Debt

CALGARY, Alberta, Sept. 09, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced it has commenced tender offers (each individually, with respect to a series of notes, a “Tender Offer”, and collectively, the “Tender Offers”) to purchase for cash (1) any and all of its outstanding 3.950% Notes due 2022 and its outstanding 3.000% Notes due 2022 (the “Any and All Tender Offer” and such notes, collectively, the “Any and All Notes”) and (2) up to a maximum aggregate purchase price of $1,000,000,000 (such aggregate purchase price, the “Maximum Aggregate Purchase Price”) of its outstanding 3.800% Notes due 2023, its outstanding 4.000% Notes due 2024, its outstanding 5.375% Notes due 2025, its outstanding 4.250% Senior Notes due 2027 and its outstanding 4.400% Notes due 2029 (the “Maximum Tender Offer” and such notes, collectively, the “Maximum Tender Offer Notes”, and the Maximum Tender Offer Notes together with the Any and All Notes, the “Securities”), subject to the acceptance priority levels and the Series Tender Caps (as defined below) noted in the second table below.

Cenovus announces Cash Tender Offers for Certain Outstanding Notes

CALGARY, Alberta, Sept. 08, 2021 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has entered into agreements with its partners in the Atlantic region to restructure its working interests in the Terra Nova and White Rose projects, providing improved economics for the company's regional portfolio.

Cenovus announces Atlantic assets restructuring plan

Cash flow appears to be about to double the old quarterly rate yet again. Thermal companies often generate a lot of free cash flow even when losing money. This points up yet another free cash flow measurement weakness.

Cenovus Energy: Lots Of Cash Flow, With More On The Way

The Husky merger was completed successfully. Cenovus is now a major integrated oil & gas company but upstream operations are the source of its profits.

Cenovus Is Worth A Shot

Cash flow exploded upwards with stronger commodity pricing.

Cenovus Energy Trading At 4 Times Annualized Free Cash Flow

Cenovus Energy shares have struggled mightily over the past decade, before a recent renaissance rebound from the spring of 2020 lows, however there is a secular turn afoot. On June 28th, 2017 I bought shares of Cenovus Energy paying $7.46 per share. Cenovus Energy recently closed at $8.43, so shares are up 13% on a price return basis.

Cenovus Energy Is A Very Cheap Mini-Major

A significant increase in transportation and blending expenses hurts Cenovus Energy's (CVE) Q2 earnings.

Cenovus Energy (CVE) Slips 4% as Q2 Earnings Miss Estimates

Cenovus is minting money with oil prices averaging above $70/bbl. Q2 saw oil prices average below this, and CVE hit the figures out of the park.

Cenovus Smashes Earnings As Synergy Savings Are Well Underway

Cenovus Energy Inc. (CVE) CEO Alex Pourbaix on Q2 2021 Results - Earnings Call Transcript

Cenovus Generates $1.8 Billion in Adjusted Funds Flow in Q2 2021

The project is helping Cenovus (CVE) to proceed with two of its ESG focus areas by addressing climate change and greenhouse gas emissions.

News for Cenovus Energy Stock (CVE)