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Cenovus Energy Inc (CVE.TO)

CVE.TO on Toronto Stock Exchange

9.32CAD
21 Feb 2018
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Latest Key Developments (Source: Significant Developments)

Cenovus Reports Qtrly Earnings Per Share $0.50
Thursday, 15 Feb 2018 06:00am EST 

Feb 15 (Reuters) - Cenovus Energy Inc ::CENOVUS REPORTS SOLID 2017 RESULTS.CENOVUS ENERGY INC - QTRLY EARNINGS PER SHARE $0.50.CENOVUS ENERGY INC - QTRLY ADJUSTED FUNDS FLOW PER DILUTED SHARE $0.70.CENOVUS ENERGY INC - QTRLY OPERATING LOSS PER SHARE $0.42.CENOVUS ENERGY INC - QTRLY TOTAL OIL AND LIQUIDS 422,157 BBLS/D VERSUS 219,551 BBLS/D‍​.CENOVUS ENERGY INC - CO BENEFITED FROM HIGHER AVERAGE FULL-YEAR BENCHMARK COMMODITY PRICES AND STRONGER REFINING OPERATING MARGIN.CENOVUS ENERGY INC - QTRLY TOTAL NATURAL GAS 795 MMCF/D VERSUS 379 MMCF/D.CENOVUS ENERGY INC - PAYING DOWN DEBT AND REDUCING COSTS REMAIN PRIORITIES FOR CENOVUS.CENOVUS ENERGY - COMBINED PRODUCTION AT CO'S CHRISTINA LAKE AND FOSTER CREEK OIL SANDS OPERATIONS WAS 292,479 NET BBLS/D IN 2017, UP 95%.CENOVUS - ON TRACK TO MEET ACCELERATED GOAL OF ACHIEVING AT LEAST $1 BILLION IN CUMULATIVE CAPITAL, OPERATING AND G&A COST REDUCTIONS OVER TWO YEARS.  Full Article

Cenovus Energy suspends oil sands drilling after worker death
Wednesday, 7 Feb 2018 03:02pm EST 

Feb 7 (Reuters) - Cenovus Energy Inc said on Wednesday::CENOVUS ENERGY SAYS WORKER FOR CONTRACTOR AT CHRISTINA LAKE, ALBERTA OIL SANDS SITE DIED ON TUESDAY IN INCIDENT WITH HAULING TRUCK.CENOVUS ENERGY SUSPENDED ALL DRILLING AND COMPLETIONS AT ALBERTA OIL SANDS OPERATIONS AS PRECAUTION AFTER WORKER DEATH -SPOKESMAN.  Full Article

Cenovus' 2018 Budget Continues Focus On Deleveraging
Thursday, 14 Dec 2017 06:00am EST 

Dec 14 (Reuters) - Cenovus Energy Inc ::CENOVUS' 2018 BUDGET CONTINUES FOCUS ON DELEVERAGING.CENOVUS ENERGY INC - PLANS TO INVEST BETWEEN $1.5 BILLION AND $1.7 BILLION IN 2018.CENOVUS ENERGY INC - IS ALSO PLANNING ADDITIONAL WORKFORCE REDUCTIONS OF APPROXIMATELY 15%.CENOVUS ENERGY INC - IN 2018, COMPANY EXPECTS TO REDUCE ITS PER-BARREL OIL SANDS OPERATING COSTS BY 8% COMPARED WITH ITS 2017 FORECAST.CENOVUS ENERGY INC - IN 2018, COMPANY EXPECTS TO REDUCE ITS PER-BARREL OIL SANDS SUSTAINING CAPITAL COSTS BY 12% COMPARED WITH ITS 2017 FORECAST.CENOVUS - CONTINUES TO ADVANCE PLAN TO REDUCE NUMBER OF BUILDINGS OCCUPIED BY CALGARY STAFF.CENOVUS - REMAINS FOCUSED ON REDUCING REAL ESTATE COSTS THROUGH SUBLEASING PROGRAM & NOT RENEWING EXISTING LEASES AS THEY EXPIRE.CENOVUS ENERGY INC - CONTINUES TO TARGET A LONG-TERM DEBT RATIO OF LESS THAN TWO TIMES NET DEBT TO ADJUSTED EBITDA.CENOVUS ENERGY INC - 2018 CAPITAL BUDGET INCLUDES SUSTAINING CAPITAL OF APPROXIMATELY $780 MILLION, OR $5.50 PER BARREL OF INSTALLED CAPACITY.CENOVUS ENERGY SAYS IS FORECASTING AVERAGE OIL SANDS PRODUCTION OF 373,000 BBLS/D IN 2018, A 26% INCREASE COMPARED WITH ITS FORECAST 2017 PRODUCTION.CENOVUS SEES 2018 TOTAL PRODUCTION 483 - 510 MBOE/D.CENOVUS ENERGY INC SEES 2017 TOTAL PRODUCTION 459 - 492 MBOE/D.CENOVUS - EXPECTS TO HAVE COMPLETED SALE OF LEGACY CONVENTIONAL OIL AND NATURAL GAS ASSETS PRIOR TO 2017-END.CENOVUS ENERGY INC - IVOR RUSTE, COMPANY'S CHIEF FINANCIAL OFFICER, WILL RETIRE ON APRIL 30, 2018.  Full Article

Cenovus to sell interest in Weyburn asset for $940 mln
Monday, 13 Nov 2017 04:38pm EST 

Nov 13 (Reuters) - Cenovus Energy Inc :Cenovus reaches agreement to sell interest in Weyburn asset for $940 million.Entered agreement to sell its majority interest in Weyburn carbon-dioxide enhanced oil recovery operation in Saskatchewan for $940 million​.Proceeds from Weyburn asset sale, 3 other divestitures, to help co retire $3.6 billion bridge facility for ConocoPhillips asset purchase by 2017​ end.  Full Article

Cenovus Q3 ‍loss per share $0.06​
Thursday, 2 Nov 2017 06:00am EDT 

Nov 2 (Reuters) - Cenovus Energy Inc :Cenovus reports solid third quarter results.Cenovus Energy - ‍announced sale agreements for Pelican Lake, Suffield and Palliser assets for combined gross cash proceeds of approximately $2.8 billion​.‍Cenovus continues to target $4 billion to $5 billion of cumulative announced sale agreements in 2017​.Cenovus Energy-‍reduced planned 2017 capital spending guidance by $100 million to $1.6 billion at midpoint with no expected impact to production in core areas​.Qtrly operating earnings per share $‍0.28​.‍q3 total natural gas 851 MMCF/d versus 392 MMCF/d​.Qtrly adjusted funds flow ‍per share $0.80​.Q3 ‍total oil and liquids 449,055 BBLS/d versus 208,072 BBLS/d​.Cenovus Energy Inc - ‍production at co's Christina Lake and Foster Creek oil sands operations rose to 362,494 bbls/d in q3 of 2017, up 136% Q3 2016.Qtrly ‍loss per share $0.06​.‍says to provide its 2018 budget overview later this year​.In final stages of an analysis of deep basin assets with a view to identifying non-core properties for potential sale​.‍declared a Q4 dividend of $0.05 per share​.Cenovus Energy-‍production at Cenovus's Christina Lake, Foster Creek oil sands operations rose to 362,494 BBLS/d in Q3, increase of 136% from last year.Q3 earnings per share view C$0.14 -- Thomson Reuters I/B/E/S.  Full Article

ConocoPhillips says committed to returns-focused strategy regardless of oil price
Thursday, 26 Oct 2017 01:06pm EDT 

Oct 26 (Reuters) - ConocoPhillips :Says committed to returns-focused strategy regardless of commodity price improvement.Says plans to exceed original oil production forecast despite capital budget cut.Says no water-borne oil exports from United States in third quarter.Says 'quite possible' might see quarterly distribution from Australia Pacific LNG joint venture in fourth quarter.Says does plan to start cutting stake in Cenovus Energy Inc <<>> after lock-up period ends in November.Says currently producing more than 30,000 barrels/day of oil in Libya.Says all gas from Australia Pacific LNG that's not sold domestically is under long-term contracts to customers in China and Japan.Says some Australia Pacific LNG customers exercised right to not take up to 10 percent of contracted cargos, making some LNG available for spot sale in 2018.  Full Article

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

Debt-cutting Cenovus Energy eyes sale of Deep Basin assets

WINNIPEG, Manitoba Canadian oil and gas producer Cenovus Energy Inc is looking to sell assets in Western Canada's Deep Basin, but will not part with its refinery business as it works to reduce debt, its chief executive said on Thursday.