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Cenovus Energy Inc (CVE)

CVE on New York Consolidated

19 Jan 2017
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Latest Key Developments (Source: Significant Developments)

Cenovus says targeting C$1.3 billion for 2017 capital budget
Thursday, 8 Dec 2016 11:56am EST 

Cenovus Energy Inc :Says targeting C$1.3 billion for its 2017 capital budget.  Full Article

Phillips 66 reports equipment restarted after process upset at Borger, Tx refinery
Monday, 21 Nov 2016 04:01pm EST 

Phillips 66 : Phillips JV 66 Borger, Texas refinery reports emissions from U43 sulfur recovery unit incinerator stack exceeded 500 lbs of SO2 due to process upset on Nov. 20 . Phillips 66 JV Borger, Texas refinery reports equipment was restarted Source: Texas Commission on Environmental Quality filing [nEMN3IA1UV] Refinery capacity: 146,000 barrels per day The Borger refinery is a joint venture between Phillips 66 and Cenovus Energy Inc (Reporting by Vijaykumar Vedala in Bengaluru) ((BLRCEEditorial@thomsonreuters.com;)).  Full Article

Cenovus Energy reports Q2 loss per share $0.32
Thursday, 28 Jul 2016 06:00am EDT 

Cenovus Energy Inc : Qtrly loss per share $0.32 . Qtrly operating loss per share $0.05 . Remains on track with its plans to bring on two new oil sands expansion phases and achieve up to $500 million in capital . Continues to anticipate exiting 2016 with foster creek production above 70,000 bbls/d net . Production at Cenovus's Foster Creek oil sands project averaged approximately 65,000 bbls/d net in Q2 . Production averaged 64,544 bbls/d net in q2 of 2016, an 11% increase from same period of 2015 . Expects about two-thirds of realized cost reductions achieved since end of 2014 will be sustainable even in higher commodity price environment . Qtrly total oil production 198,080 bbls/d versus 199,954 bbls/d) . Q2 loss per share $0.32 . Q2 earnings per share view c$-0.19 -- Thomson Reuters I/B/E/S . Has strong second-quarter operational performance . In Q2, cenovus recorded severance costs of approximately $19 million related to its 2016 workforce reductions .Qtrly operating loss per share $0.05.  Full Article

Cenovus restarting Pelican Lake oil sands operations
Thursday, 9 Jun 2016 04:24pm EDT 

Cenovus Energy : Says wildfire near facilities continues to burn but is being contained by Alberta firefighters .Says it is in the process of restarting production at Pelican Lake oil sands site after precautionary wildfire shutdown.  Full Article

Cenovus says may be able to restart Pelican Lake output on Thursday
Wednesday, 8 Jun 2016 06:12pm EDT 

Cenovus Energy Inc : Says wildfire near Pelican Lake oil sands project has been downgraded, now being held by firefighters .Cenovus says 44 essential staff will be back on site Wednesday evening, if conditions do not change will potentially restart production Thursday.  Full Article

Phillips 66 reports emissions at Borger, TX refinery
Thursday, 19 May 2016 06:06pm EDT 

Phillips 66 : Phillips 66 JV Borger, Texas, refinery reports emissions from GOHDS HC Flare, unit 82 Amine Treater . Source: Texas Commission on Environment Quality filing [nEMN36GQWA] . Refinery capacity: 146,000 barrels per day The Borger refinery is a joint venture between Phillips 66 and Cenovus Energy Inc Further company coverage: [PSX.N] (Reporting by Swati Verma in Bengaluru) ((Swati.Verma@thomsonreuters.com; within U.S. +1 651 848 5832, outside U.S. +91 80 6749 6356/1298 ; Reuters Messaging: swati.verma.thomsonreuters.com@reuters.net)).  Full Article

Cenovus Energy Inc files for mixed shelf
Friday, 12 Feb 2016 06:17am EST 

Cenovus Energy Inc:Files for mixed shelf of up to $5.0 billion - SEC filing.  Full Article

Cenovus Energy Inc defers maintenance at Foster Creek oil sands project - Reuters
Thursday, 11 Feb 2016 12:00pm EST 

Cenovus Energy Inc:Says will probably look at doing deferred maintenance at Foster Creek oil sands project in spring next year.Says has ongoing divestiture program in place for parts of non-core conventional oil business.Says workforce reductions over course of 2015 were approximately 24 percent or 1500 people.Expects 10 percent year-over-year decline in conventional oil production volumes due to lower spending and divestitures.  Full Article

Cenovus Energy Inc cuts dividend by 69% to $0.05 per share
Thursday, 11 Feb 2016 06:01am EST 

Cenovus Energy Inc:Reduce first quarter dividend by 69% to $0.05 per share.Record date March 15, payable date March 31.  Full Article

Cenovus Energy Inc exceeds job-cut target, shares rise - Reuters
Thursday, 29 Oct 2015 02:11pm EDT 

Cenovus Energy Inc:Cenovus Energy Inc has achieved 700 job cuts for the second half of 2015, double the number it forecast in July, the Canadian oil producer said on Thursday - RTRS.Cenovus said it expected to end the year with about 4,000 employees, including contractors, down about a quarter from a year earlier - RTRS.The company estimated that these reductions would generate savings of at least C$100 million ($76 million) annually from next year - RTRS.Job cuts will result in additional severance costs of about C$32 million in the current quarter, the company said - RTRS.Cenovus, which previously announced additional staff reductions in 2016, said it would achieve additional savings by changing some compensation, benefits and time-off practices - RTRS.  Full Article

UPDATE 3-Canada's Cenovus says would consider refinery acquisitions

CALGARY, Alberta, Oct 27 Canadian oil and gas producer Cenovus Energy Inc said on Thursday it would consider refinery acquisitions in areas including the U.S. Gulf coast region provided the opportunity offered good value and was easily accessible for Canadian crude.