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Cenovus Energy Inc.

Company Summary

Description

Cenovus Energy Inc. (Cenovus) is an integrated oil company. The Company is engaged in the business of developing, producing and marketing crude oil, natural gas liquids (NGLs) and natural gas in Canada with marketing activities and refining operations in the United States.

Website

http://www.cenovus.com/about/index.html

Operational Regions

  • Athabasca Oil Sands
  • Western Canadian Sedimentary Basin
  • Saskatchewan

Financial Data:

NYSE:CVE from Google Finance

Tickers:

  • CVE - New York Stock Exchange
  • CVE - Toronto Stock Exchange

Related Entities

Recent news

  • 8/5/2022 - Cenovus Energy Releases... (subscriber access)
  • 8/5/2022 - Cenovus Energy Releases... (subscriber access)
  • 6/13/2022 - bp Purchases Land... (subscriber access)
  • 5/31/2022 - Cenovus Energy Restarts... (subscriber access)
  • 4/27/2022 - Cenovus Exited 1Q22 w/... (subscriber access)

Investor Presentations

  • 1Q22 Earnings Presentation
  • 4Q21 Investor Presentation (subscriber access)
  • 1Q21 Earnings Presentation (subscriber access)
  • Cenovus - Husky Merger Presentation (subscriber access)
  • 2Q20 Earnings Presentation (subscriber access)
  • 4Q19 Investor Presentation (subscriber access)
  • July 2019 Investor Presentation (subscriber access)
  • April 2019 Presentation (subscriber access)
  • February 2019 Corporate Presentation (subscriber access)
  • 2Q18 Investor Presentation (subscriber access)
  • 1Q18 Earnings Presentation (subscriber access)
  • July 2017 Corporate Guidance Update (subscriber access)
  • 2017 Investor Day & 5-Year Plan (subscriber access)
  • Investor Presentation - April 2017 (subscriber access)
  • March 2017 Oil Sands Acquisition PPT (subscriber access)
  • Investor Presentation - February 2017 (subscriber access)
  • Corporate Presentation - November 2016 (subscriber access)
  • UBS Global Oil & Gas Conference - May 2016 (subscriber access)
  • 1Q16 Conference Call Notes (subscriber access)
  • 1Q16 Earnings Slides (subscriber access)
  • Cenovus Energy - 2015 Annual Report (subscriber access)

Company Transactions

Date: 6/30/2022
Type: Acquisition

NOTES:
The Husky assets include 337 gas stations being sold off to Parkland Corp. and Federated Co-operatives Ltd. for $420 million in cash. Cenovus will retain its commercial fuels business, and this deal will close by mid-2022.
REGIONS:
  • Canada
  • Date: 6/30/2022
    Type: Acquisition

    DETAILS:

    COST: 238 $MM

    VOLUMES: 3.2 MBOE/d

    NOTES:
    The Montney assets in the Wembley area are being sold for cash proceeds of $238 million, and it includes production of 3.2 Mboe/d in 2021 (38% liquids.) That deal will close in December 2021.
    REGIONS:
  • Montney Formation
  • Date: 1/31/2022
    Type: Acquisition

    DETAILS:

    COST: 800 $MM

    VOLUMES: 19.2 M Bbls/d

    NOTES:
    Cenovus has entered into a deal to divest its Tucker thermal asset for $800 million in cash proceeds. They will use proceed to accelerate their debt reduction and to ramp shareholder returns.
    REGIONS:
  • Canada
  • Date: 1/1/2021
    Type: Merger

    DETAILS:

    COST: 23.6 $B

    NOTES:
    Cenovus Energy and Husky Energy announced an all-stock transaction valued at $23.6 billion. The transaction has been approved by both companies' Boards of Directories and is expected to close first quarter 2021.
    REGIONS:
  • North America
  • Date: 12/22/2020
    Type: Acquisition

    DETAILS:

    COST: 100 $MM

    NOTES:
    Cenovus has reached a deal to divest its Marten Hills oil assets in Alberta to Headwater Exploration, with the initial payment valued at $100 million. This includes $35 million in cash, 50 million common shares and 15 million share purchase warrants.
    REGIONS:
  • Western Canadian Sedimentary Basin
  • Date: 9/6/2018
    Type: Acquisition

    DETAILS:

    COST: 625 $MM

    VOLUMES: 9.6

    ACRES: 85050

    NOTES:
    Cenovus has entered into a deal to divest their Pipestone and Wembley natural gas business in Alberta for $625 million in cash. The deal includes their 39% stake in the Wembley Gas Plant and 8.8 Mboe/d in production (55% gas.) Closing is expected in the third quarter of 2018.
    REGIONS:
  • Western Canadian Sedimentary Basin
  • Date: 12/31/2017
    Type: Acquisition

    DETAILS:

    COST: 512 $MM

    VOLUMES: 23.7 MBOE/d

    ACRES: 900000 Acres

    NOTES:
    The assets are located in southern Alberta and the companies have agreed to a deferred purchase price which could include additional payments of up to $36 million.
    REGIONS:
  • Western Canadian Sedimentary Basin
  • Date: 12/31/2017
    Type: Acquisition

    DETAILS:

    COST: 1 $B

    VOLUMES: 54 MBOE/d

    NOTES:
    Under the agreement Schlumberger will serve as the majority non-operating owner with rights to exclusive service provision and Torxen will serve as operator. The development program will consist of over 1,600 wells beginning in 2018.
    REGIONS:
  • Western Canadian Sedimentary Basin
  • Date: 12/15/2017
    Type: Acquisition

    DETAILS:

    COST: 940 $MM

    VOLUMES: 11.5 MBOE/d

    NOTES:
    Cenovus has entered into an agreement to divest its Weyburn CO2 recovery operation in Saskatchewan to Whitecap Resources.
    REGIONS:
  • Saskatchewan
  • Date: 9/30/2017
    Type: Acquisition

    DETAILS:

    COST: 975 $MM

    VOLUMES: 19.6 MBOE/d

    REGIONS:
  • Pelican Lake Heavy Oil Field