Cenovus Energy Inc is a Canadian integrated oil and gas company that specializes in the exploration, production, and refining of crude oil and natural gas
The company primarily operates in the oil sands of Alberta, employing advanced technologies to extract heavy oil and enhance recovery processes. In addition to its upstream activities, Cenovus also has a refining segment, allowing it to convert raw crude into valuable petroleum products. Committed to sustainability, the firm integrates environmentally responsible practices throughout its operations, striving to reduce the carbon footprint associated with its resource extraction and processing activities.
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CALGARY, Alberta, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSECVE) today announced its 2025 corporate guidance, which includes capital investment of $4.6 billion to $5.0 billion, delivering upstream production of 805,000 barrels of oil equivalent per day (BOE/d) to 845,000 BOE/d and downstream crude unit utilization of 90% to 95%. Capital investment in 2025 will include about $3.2 billion of sustaining capital to maintain base production and support continued safe and reliable operations, with an additional $1.4 billion to $1.8 billion directed towards advancing the company’s upstream growth projects. Cenovus’s disciplined capital plan and strong emphasis on cost control will support continued returns to shareholders of 100% of excess free funds flow (EFFF) over time while maintaining net debt near $4.0 billion.
CALGARY, Alberta, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (“Cenovus” or the “Company”) (TSX: CVE) (NYSECVE) announced today it will exercise its right to redeem the Company’s 4.689% Series 3 Preferred Shares (the “Series 3 Preferred Shares”) on December 31, 2024 (the “Redemption”). All 10 million Series 3 Preferred Shares outstanding will be redeemed at the price of $25.00 per share, for an aggregate amount payable to holders of $250 million, less required withholdings, if any, funded primarily from cash on hand.
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CALGARY, Alberta, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSECVE) announced today that the Toronto Stock Exchange (“TSX”) has approved the renewal of the company’s normal course issuer bid (“NCIB”) to purchase up to 127,489,549 common shares during the 12-month period commencing November 11, 2024 and ending November 10, 2025.
CALGARY, Alberta, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSECVE) today announced its financial and operating results for the third quarter of 2024. The company generated nearly $2.5 billion in cash from operating activities, $2.0 billion of adjusted funds flow and $614 million of free funds flow in the quarter. Upstream production of more than 771,000 barrels of oil equivalent per day (BOE/d)1 was slightly lower compared with the second quarter primarily because of turnaround activity at the Christina Lake oil sands facility. Turnaround impacts to production were lower than forecast, as Christina Lake completed its turnaround ahead of schedule. In the downstream, total throughput increased by about 20,000 barrels per day (bbls/d) from the second quarter to almost 643,000 bbls/d, and a major turnaround was successfully completed at the Lima Refinery.
CALGARY, Alberta, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSECVE) will release its third-quarter 2024 results on Thursday, October 31. The news release will provide consolidated third-quarter operating and financial information. The company’s financial statements will be available on Cenovus’s website, cenovus.com.
CALGARY, Alberta, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSECVE) delivered strong operational performance across its portfolio in the second quarter of 2024, with solid production from its upstream assets and improved crude throughput at the company’s U.S. refineries, which operated at an overall utilization rate of 93%. Net debt was $4.26 billion at June 30, 2024, and in July the company achieved its net debt target of $4.0 billion. As a result, beginning in the third quarter, Cenovus will begin returning 100% of excess free funds flow (EFFF) to shareholders, as per the company’s shareholder returns framework.
CALGARY, Alberta, July 25, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSECVE) will release its second-quarter 2024 results on Thursday, August 1. The news release will provide consolidated second-quarter operating and financial information. The company’s financial statements will be available on Cenovus’s website, cenovus.com.
CALGARY, Alberta, June 20, 2024 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSECVE), as a member of Pathways Alliance, today issued the following statement with respect to the Canadian government’s Bill C-59.
