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Cenovus Energy Inc (CVE.TO)

CVE.TO on Toronto Stock Exchange

12.49CAD
20 Oct 2017
Change (% chg)

$-0.02 (-0.16%)
Prev Close
$12.51
Open
$12.54
Day's High
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Volume
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$22.06
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$8.89

Latest Key Developments (Source: Significant Developments)

Cenovus reaches agreement to sell Palliser assets for $1.3 bln
Thursday, 19 Oct 2017 06:00am EDT 

Oct 19 (Reuters) - Cenovus Energy Inc :Cenovus reaches agreement to sell Palliser assets for $1.3 billion.Cenovus reaches agreement to sell Palliser assets for $1.3 billion.Cenovus Energy Inc - ‍sale process for Cenovus's Weyburn carbon-dioxide enhanced oil recovery operation in Saskatchewan is proceeding as expected​.Cenovus Energy Inc - ‍credit Suisse and Scotiabank acted as financial advisors to Cenovus for Palliser transaction​.Cenovus - proceeds from Palliser sale will be used to deleverage company's balance sheet​.Cenovus Energy Inc - ‍Cenovus anticipates reaching a sale agreement for Weyburn asset in Q4 of 2017​.Cenovus Energy Inc - ‍"we continue to target between $4 billion and $5 billion in announced asset sale agreements by end of year​".Cenovus Energy-anticipates reaching sale for its Weyburn asset in Q4 of 2017.Cenovus Energy Inc - ‍Cenovus has certain other non-core assets that are currently being evaluated for potential sale​.Cenovus Energy - agreement to sell its Palliser crude oil and natural gas assets in Southeastern Alberta to Torxen energy and Schlumberger​.  Full Article

Cenovus Energy says files for mixed shelf of up to $7.5 bln
Thursday, 28 Sep 2017 05:34pm EDT 

Sept 28 (Reuters) - Cenovus Energy Inc :Cenovus Energy Inc - files for mixed shelf of up to $7.5 billion - SEC Filing‍​.  Full Article

Cenovus reaches agreement to sell Suffield assets for $512 bln
Monday, 25 Sep 2017 02:01am EDT 

Sept 25 (Reuters) - Cenovus Energy Inc - :Cenovus reaches agreement to sell Suffield assets for more than half a billion dollars.Cenovus Energy - To sell Suffield crude oil and natural gas operations in southern Alberta to International Petroleum Corp for cash proceeds of $512 million.Cenovus Energy - Net proceeds from the Suffield sale will be applied to reduce company's $3.6 billion asset-sale bridge facility.  Full Article

Cenovus to sell Pelican Lake assets for about $1 bln
Tuesday, 5 Sep 2017 06:00am EDT 

Sept 5 (Reuters) - Cenovus Energy Inc ::Cenovus reaches agreement to sell Pelican Lake assets for approximately $1 billion.Cenovus- proceeds from sale to be applied against $3.6 billion asset-sale bridge facility to fund asset acquisition from Conocophillips earlier this year.Cenovus Energy Inc - company intends to retire first tranche of Bridge facility.Cenovus Energy - ‍to sell Pelican Lake heavy oil operations, other miscellaneous assets in northern Alberta for gross cash proceeds of $975 million​.  Full Article

Cenovus up as much as 6 pct after Reuters report on bids for assets
Friday, 4 Aug 2017 12:16pm EDT 

Aug 4 (Reuters) - Cenovus Energy Inc :Shares up as much as 6 percent after Reuters report on bids for Pelican Lake, Suffield assets.  Full Article

Cenovus says asset divestiture could exceed C$5 billion
Thursday, 27 Jul 2017 11:48am EDT 

July 27 (Reuters) - Cenovus Energy Inc :Chief Executive Ferguson says will announce sale agreement for Suffield and Pelican Lake assets in third quarter.Cenovus CEO Ferguson says will have update on sales of Weyburn and Palliser oil assets in fourth quarter.For new CEO, Cenovus says looking for candidate focused on cost and would carry on company's current plans.Says asset divestiture to cut debt for Conocophillips <<>> acquisition could exceed C$5 billion.  Full Article

Cenovus Reports Q2 EPS c$2.37
Thursday, 27 Jul 2017 06:00am EDT 

July 27 (Reuters) - Cenovus Energy Inc :Cenovus delivers strong second quarter performance.Q2 operating earnings per share c$0.36.Q2 earnings per share c$2.37.Q2 earnings per share view c$0.02 -- Thomson Reuters I/B/E/S.‍Reduced planned 2017 capital spending by approximately $200 million to $1.7 billion at midpoint​.In Q2, production averaged 153,953 bbls/d, a 97 pct increase from same period in 2016 for Christina Lake.Qtrly total oil and liquids production 333,664​ BBLS/D versus 198,080 BBLS/D last year.‍brian Ferguson will retire as president & chief executive officer and as a director of company on October 31, 2017​.Cenovus has updated its capital spending guidance for 2017.‍Ferguson will continue in an advisory role reporting to board chair until March 31, 2018​.‍Has engaged an executive search firm which is currently conducting a global search for a new chief executive officer​.Total planned capital expenditures have been reduced by approximately $200 million at midpoint of range for 2017.‍Production averaged 107,859 BBLS/D in Q2, 67 pct higher than in same period of 2016 for foster creek​.Qtrly ‍adjusted funds flow per share $0.71​.‍Cenovus continues to target between $4 billion and $5 billion in announced asset sale agreements during 2017​.  Full Article

Cenovus says progressing plan to divest non-core assets
Tuesday, 20 Jun 2017 06:00am EDT 

June 20 (Reuters) - Cenovus Energy Inc ::Cenovus - put forward five-year plan that co expects will generate 14% annualized free funds flow growth through 2021 at wti price of US$55 per barrel.Cenovus Energy Inc - progressing plan to divest non-core assets, targeting between $4 billion and $5 billion in announced sales agreements by end of year.Cenovus Energy Inc - company is now targeting to reach divestiture agreements by end of 2017 for its entire legacy conventional portfolio.Cenovus Energy Inc - combined, all of the assets are expected to produce approximately 112,000 barrels of oil equivalent per day (boe/d) in 2017.Cenovus Energy Inc - plan entails disciplined capital investment to maintain current oil sands production, add barrels from expansion phase g at Christina Lake.Cenovus Energy Inc - company expects five-year plan will increase production at a 6% compound annual growth rate and reduce its debt.Co now has approval from its board of directors to hedge up to 75% of forecast crude oil volumes this year and in 2018.Cenovus Energy Inc - also plans to achieve additional $1 billion cumulative capital, operating, general, administrative cost reductions over next 3 years.Cenovus Energy Inc - company now has approval from its board of directors to hedge up to 75% of forecast crude oil volumes this year and in 2018.Cenovus Energy Inc - expects to increase production at its best-in-class oil sands operations to more than 440,000 barrels per day (bbls/d) over next 5 yrs.  Full Article

Cenovus CEO Brian Ferguson to retire
Tuesday, 20 Jun 2017 06:00am EDT 

June 20 (Reuters) - Cenovus Energy Inc ::Cenovus president & Chief Executive Officer Brian Ferguson to retire.Cenovus Energy Inc - Brian Ferguson will be retiring as an officer and director of company on October 31, 2017.Says board will engage immediately in a broad global search for a new president & chief executive officer.Cenovus Energy Inc - following retirement at end of October, Ferguson will continue in transition advisor role reporting to board chair till March 31, 2018.  Full Article

Cenovus says completed purchase of ConocoPhillips Canada assets
Wednesday, 17 May 2017 05:00pm EDT 

May 17 (Reuters) - Cenovus Energy Inc :Says completed acquisition of ConocoPhillips <<>> western Canadian assets.  Full Article

UPDATE 3-Schlumberger's latest asset deal raises fresh concerns ahead of Q3

Oct 19 Oilfield services giant Schlumberger Ltd sealed a deal to buy oil and gas assets worth $1 billion from Cenovus Energy on Thursday, raising further concerns about its strategy to own more refining and drilling operations directly.