Welcome to our dedicated page for Cenovus Energy news (Ticker: CVE), a resource for investors and traders seeking the latest updates and insights on Cenovus Energy stock.
Cenovus Energy Inc. (TSX: CVE, NYSE: CVE) is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The CVE news feed on Stock Titan aggregates company announcements, regulatory disclosures and market updates that reflect this integrated upstream and downstream business.
Through its own news releases and accompanying Form 6‑K filings, Cenovus reports on quarterly financial and operating results, including upstream production volumes and downstream crude throughput. The company also issues guidance updates that outline expected production ranges for its oil sands, conventional and offshore segments, as well as throughput expectations for Canadian and U.S. refining operations. These updates often describe sustaining capital plans, growth projects and planned maintenance activities across the asset base.
Investors following CVE news will see coverage of corporate transactions, such as Cenovus’s acquisition of MEG Energy Corp., which it has said strengthens its portfolio of long‑life, low‑cost oil sands assets. The company also announces capital markets activities, including offerings of senior unsecured notes in Canadian and U.S. dollars, and provides details on the use of proceeds and related redemptions of existing notes.
Cenovus news releases further describe its capital allocation framework, including normal course issuer bids for share repurchases and dividend declarations on common and preferred shares. The company also communicates sustainability and social initiatives, such as its Indigenous Housing Initiative and updated social commitments. For investors and analysts, the CVE news page offers a centralized view of these operational, financial, financing and sustainability disclosures, making it a useful reference for tracking developments across Cenovus’s integrated energy operations.
Cenovus Energy Inc. (TSX:CVE) will announce its second-quarter results on July 28, 2022. The announcement will encompass consolidated operating and financial information for the quarter. Financial statements will be accessible on the company's website. A conference call is scheduled for 9 a.m. MT, where stakeholders can listen live by dialing 800-263-0877 or accessing an audio webcast here.
Cenovus Energy has agreed to acquire the remaining 50% of the Sunrise oil sands project from bp for $600 million in cash and a variable payment up to $600 million. This transaction, effective May 1, 2022, is expected to close in Q3 2022, enhancing Cenovus's oil sands operations. The company aims to increase production from the current 50,000 bbls/d to 60,000 bbls/d by implementing advanced operating techniques. The acquisition is anticipated to immediately benefit adjusted funds flow and cash from operating activities.
Cenovus Energy Inc. (CVE) has announced the restart of its West White Rose Project offshore Newfoundland and Labrador, aiming for first oil in early 2026. Peak production is projected at 80,000 bbls/d, with Cenovus’s share at 45,000 bbls/d by 2029. The project, now 65% complete, will require an estimated $2.0 to $2.3 billion in capital, offset by deferring decommissioning costs. Amended royalty structures with the Government of Newfoundland and Labrador will safeguard the project's economics during low commodity prices. This decision stems from a recent restructuring with partner Suncor.
Cenovus Energy Inc. (CVE) announced plans to redeem its outstanding 3.55% notes due March 12, 2025 on June 28, 2022. Registered holders will receive a redemption price that includes accrued interest. Non-registered holders should contact their financial institutions for guidance. This announcement does not serve as a notice of redemption, which has already been delivered to the registered holder. Forward-looking statements caution that actual outcomes may differ, indicating reliance on certain assumptions concerning available funds at the redemption date.
Cenovus Energy Inc. (CVE) held its annual shareholder meeting on April 27, 2022, where all 12 nominated Directors were elected. Votes for each nominee were overwhelmingly positive, with Keith M. Casey receiving 99.85% support, while Canning K.N. Fok was the only nominee with significant dissent, garnering 67.24% approval against 32.76% withheld votes. Overall, the election results reflect strong shareholder confidence in the company's leadership amid its integrated energy operations in Canada and the Asia Pacific region.
Cenovus Energy has announced strong first-quarter results for 2022, featuring a significant increase in shareholder returns, including a tripling of the base dividend to $0.42 annually starting Q2 2022. The company plans to return 50% of excess free funds flow to shareholders when net debt is below $9 billion and 100% when at $4 billion. Q1 highlights include $1.4 billion in cash from operating activities and $1.8 billion in free funds flow. Cenovus aims to maintain a robust balance sheet while undertaking capital investments of up to $3.3 billion due to rising costs in ongoing projects.
Cenovus Energy (TSX: CVE) has announced a US$3 million donation to the Nature Conservancy of Canada as part of its updated social investment strategy. This funding aims to trigger charitable matching programs, potentially increasing the total to US$12 million for conservation efforts in Western Canada. The donation marks an enhancement in Cenovus's commitment to addressing climate change and fostering biodiversity by supporting initiatives that focus on Indigenous reconciliation, protected habitats, youth empowerment, and resilient communities.
Cenovus Energy Inc. (TSX:CVE) announced it will release its first-quarter results on April 27, 2022, providing consolidated operating and financial data. The financial statements will be accessible on the company’s website. A conference call is scheduled for 9 a.m. MT (11 a.m. ET) on the same day, with details on how to listen live included. Additionally, Cenovus will hold its Annual Meeting of Shareholders at 1 p.m. MT (3 p.m. ET) virtually on April 27, 2022, with a webcast link available on their investor page.
Cenovus Energy Inc. (CVE) announced the suspension of its crude oil price risk management activities related to West Texas Intermediate (WTI), citing a strong balance sheet and liquidity. The company anticipates realized losses of approximately $970 million for Q1 2022 and expects an additional $410 million in losses for Q2 2022. Cenovus plans to close most outstanding risk management positions within two months. The company will provide Q1 results and shareholder return plans on April 27, 2022, continuing its focus on generating long-term free funds flow.
Cenovus Energy reported record oil sands production in Q4 2021, achieving a total upstream output of over 825,000 BOE/d. The company generated Q4 cash from operating activities of $2.2 billion, with adjusted funds flow of $1.9 billion. Net debt decreased to below $9.6 billion, down over $3.5 billion in 2021. Cenovus is focused on enhancing shareholder returns through share buybacks and increased dividends. Despite a net loss of $408 million in Q4, driven by a non-cash impairment of $1.9 billion, total revenues rose to approximately $46.4 billion for the year, showcasing operational strength post-Husky acquisition.
FAQ
What is the current stock price of Cenovus Energy (CVE)?
What is the market cap of Cenovus Energy (CVE)?
