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Cenovus Energy Inc (CVE.TO)

CVE.TO on Toronto Stock Exchange

10.86CAD
15 Dec 2017
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$-0.40 (-3.55%)
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Latest Key Developments (Source: Significant Developments)

Cenovus' 2018 Budget Continues Focus On Deleveraging
Thursday, 14 Dec 2017 

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 

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 

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 

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 

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 reports Q2 loss per share $0.32
Thursday, 28 Jul 2016 

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 

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 

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 

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 

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

CANADA STOCKS-TSX ends up, Linamar jumps on acquisition

TORONTO, Dec 15 Canada's main stock index rose on Friday, helped by a sharp jump in auto parts maker Linamar Corp after it announced plans to buy an agricultural equipment maker, while financial stocks and base metal miners also gained.