Operator · Canada Oil Sands
Cenovus Energy Inc.
43 articles mentioning Cenovus Energy Inc. · Page 1 of 3
Cenovus Outlines 2026 Development Plan Following MEG Integration
Cenovus’ 2026 plan targets capital investment of $5.0 billion to $5.3 billion (including ~$350 million of capitalized turnaround costs) and upstream production of 945,000 BOE/d to 985,000 BOE/d, reflecting ~4% year-over-year growth (adjusted for the MEG...
Cenovus Energy Fourth Quarter, Full Year 2021 Results
Cenovus Energy Inc. reported its Q4 and full year 2021 results. Cenovus delivered record oil sands production in the fourth quarter of 2021, contributing to total upstream output of more than 825,000 barrels of oil equivalent...
Cenovus Wraps Up $23.6B Acquisition of Husky Energy
Cenovus Energy Inc. has finalized its acquisition of Husky Energy Inc. The deal, which was originally announced in October 2020, is worth ~$23.6 billion. Cenovus is now the obligor under Husky’s existing US$500 million 3.95% notes...
Cenovus Fourth Quarter, Full Year 2020 Results
Cenovus Energy Inc. reported its Q4 and full year 2020 results. The company generated positive free funds flow in the fourth quarter, partially offsetting the impact of low oil prices on its full-year results. Cenovus’s planned...
Cenovus Keeping Spending Flat for 2021 at $2.5B (Pro-Forma Husky Deal)
Cenovus Energy Inc. has detailed its 2021 capital plans. 2021 Capital Plan - Capex: $2.3--2.7 billion - flat vs. 2020 spending by both Cenovus and Husky, which was at $800 million and $1.7 billion, respectively (for...
Cenovus, Husky Finalize $23.6B Merger Deal
Cenovus Energy Inc.'s strategic combination with Husky Energy Inc. has closed. The deal was originally announced on October 25, 2020. With the close of the transaction, Husky has become a wholly owned subsidiary of Cenovus. The...
Cenovus, Husky Unveil Post-Merger Leadership Team
Cenovus Energy Inc. and Husky Energy Inc. have detailed the executive leadership team that is expected to lead the combined company (the merger of Cenovus and Husky was announced on October 25, 2020). Immediately following the...
Cenovus Trims Further $150MM from 2020 Capex; Reduces Salaries for Execs, VPs
Cenovus Energy Inc. has made changes to its 2020 capital plan. Cenovus is cutting its 2020 capex by an additional $150 million which, combined with the $450 million reduction announced March 9, 2020, is a $600...
Cenovus Lowers 2020 Capex by 32% to $900MM; Puts Projects on Hold
Cenovus Energy Inc. is cutting its 2020 capital plans in response to low commodity prices. The company is reducing its 2020 capital spending by approximately 32% to $900 million (it had originally planned to spend $1.3-1.5...
Cenovus Boosts Capex 22% for 2020; Oil Sands, Deep Basin Investment Up
Cenovus Energy Inc. has detailed its 2020 capital plans. Highlights: Total capital expenditures of $1.4 billion - up 22% from 2019 Total production increase of 7% to 484 MBOEPD (midpoint) The only area where Cenovus will...
Oil Sands Operators to Increase 2020 Spending +14% to $10 Billion
The top oil sands operators disclosed their capital spending budugets and 2020 will see an increase of +14%. CNRL is the only company that did not provide a detailed break-out of the company's capex. As we...
Cenovus Reports Q3 2019 Results
Cenovus Energy Inc. reported its Q3 2019 results. Adjusted funds flow of $916 million; cash from operating activities of $834 million Oil sands operating costs of $6.90 per barrel (bbl), 21% lower than in the second...
Cenovus Reports Second Quarter 2019 Results
Cenovus Energy reports second quarter after generating over $830 million in free funds flow. The company’s excellent financial performance was driven by higher realized oil prices, which contributed to oil sands operating margin of more than...
Cenovus Hits Production Milestone at Oil Sands Facilities; One Billion Barrels
Cenovus Energy Inc. has reached one billion barrels of cumulative production from its Foster Creek and Christina Lake oil sands facilities in northern Alberta. Cenovus is the first company to produce one billion barrels of oil...
Cenovus Details Q1 2019 Results
Cenovus Energy Inc. reported its Q1 2019 results. The company delivered strong operating and financial performance in the first quarter of 2019, generating more than $1 billion of adjusted funds flow, $731 million of free funds...
Cenovus Cuts Budget Slightly for 2019 at $1.3B; Bets Bulk on Oil Sands
Cenovus Energy has revealed plans to invest between $1.2 billion and $1.4 billion in 2019 - down -4% from 2018. The majority of the budget going to sustain base production at its Foster Creek and Christina...
Cenovus Signs 100,000 Bbls/d Rail Transport Deal
Cenovus Energy has signed three-year deals with major rail companies to transport approximately 100,000 barrels per day (bbls/d) of heavy crude oil from northern Alberta to various destinations on the U.S. Gulf Coast. The agreements involve...
Cenovus Brings On New CFO
Cenovus has appointed Jonathan McKenzie as its new CFO. McKenzie comes from Husky Energy, which announced his departure from the company on April 5, 2018. About McKenzie: McKenzie comes to Cenovus from Husky Energy Inc. where...
Cenovus Oil Sands Facilities Processing at Reduced Rate; Storage Excess
Cenovus reported that its oil sands facilities have been operating at a reduced rate and is storing excess barrels. This is in reponse to wider than normal light-heavy price differentials and recent pipeline capacity constraints as...
Cenovous Chops $100MM from 2017 Capex After Q3 Loss
Cenovus reported its Q3 2017 results. Highlights: Increased third quarter cash from operating activities and adjusted funds flow by 91% and 133% respectively, compared with the same period in 2016 Recorded a net loss of $69...