Cenovus Energy Inc. continued to deliver safe and reliable operations in the first quarter of 2020 while demonstrating its ability to take swift and decisive steps to enhance its financial resilience and protect its balance sheet in the face of the global macro-economic challenges caused by the COVID-19 pandemic. The company’s first-quarter financial results were impacted by the significant decline in global demand and [...]
Cenovus Energy Inc. will release its first-quarter results on Wednesday, April 29, 2020. The news release will provide consolidated first-quarter operating and financial information. Financial statements will be available on Cenovus’s website, cenovus.com. A conference call and webcast to discuss the results will be held for the investment community at 9 a.m. MT . To participate, please dial 888-231-8191 or 647-427-7450 [...]
Cenovus Energy Inc. is implementing additional measures to enhance its financial resilience in response to the low global oil price environment that is expected to continue for an unknown period. The company’s financial framework and flexible business plan provide it with multiple options to prudently manage its balance sheet. Cenovus has decided to reduce its planned 2020 capital spending by an additional $150 million [...]
Cenovus Energy Inc. announced today that its upcoming Annual Meeting of Shareholders will now be held in a virtual only format. The Shareholders Meeting will be held at the originally scheduled date and time, on April 29, 2020 at 1:00 p.m. Mountain Time , however, it will now be conducted in a format whereby registered shareholders and duly appointed proxyholders may only attend and participate in the meeting virtually [...]
Cenovus Energy Inc. is reducing its 2020 capital spending by approximately 32% in order to maintain the strength of its balance sheet. Cenovus is also temporarily suspending its crude-by-rail program and deferring final investment decisions on major growth projects. These measures are being taken in response to the recent significant decline in world benchmark crude oil prices. The company continues to work toward funding [...]
Cenovus Energy Inc. continued to gain momentum in 2019, generating free funds flow of $361 million in the fourth quarter and approximately $2.5 billion for the year, reducing net debt by 22% year-over-year and completing construction on its Christina Lake phase G oil sands expansion in March. In the fourth quarter of 2019, Cenovus increased its dividend by 25% and reached full ramp-up of its crude-by-rail shipping [...]
Cenovus Energy Inc. will release its fourth-quarter and year-end 2019 results on Wednesday, February 12, 2020. The news release will provide consolidated fourth-quarter and year-end 2019 operating and financial information. Financial statements will be available on Cenovus’s website, cenovus.com. A conference call and webcast to discuss the results will be held for the investment community at 9 a.m. MT . To [...]
Cenovus Energy Inc. today launched a major initiative aimed at addressing one of the most pressing issues facing Indigenous communities in Canada – the lack of adequate housing that is forcing many families to live in overcrowded and unsafe conditions. Cenovus is committing $10 million per year for five years to build much-needed new homes in six First Nations and Métis communities closest to its oil sands [...]
Cenovus Energy Inc. is establishing ambitious environmental, social and governance targets to guide performance in its four ESG focus areas: climate & greenhouse gas emissions, Indigenous engagement, land & wildlife, and water stewardship. These targets reflect the company’s continued integration of sustainability into its strategy and business plan to help foster long-term resilience. Leading safety practices [...]
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Cenovus Energy Inc. remains committed to delivering increasing shareholder value through cost leadership, capital discipline and continued safe and reliable operations. These commitments, combined with its top-tier upstream assets, successful crude-by-rail program and joint ownership in two high-performing U.S. refineries, position Cenovus to continue generating significant free funds flow while enabling the company to [...]
Cenovus Energy Inc. continued to deliver on its commitments to shareholders in the third quarter of 2019. The company generated free funds flow of $622 million while maintaining its industry-leading low cost structure and meeting mandatory production curtailment levels set by the Government of Alberta. Other third-quarter highlights include: Adjusted funds flow of $916 million; cash from operating activities of $834 [...]
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