CALGARY, Alberta, March 18, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announces 274,160 of its 10,435,932 Cumulative Redeemable First Preferred Shares, Series 1 (Series 1 Shares) have been tendered for conversion on March 31, 2021, on a one-for-one basis, into Cumulative Redeemable First Preferred Shares, Series 2 (Series 2 Shares) and 577,882 of its 1,564,068 Series 2 Shares have been tendered for conversion, on a one-for-one basis, into Series 1 Shares.

As of March 31, 2021 Cenovus will have 10,739,654 Series 1 Shares and 1,260,346 Series 2 Shares issued and outstanding. The Series 1 Shares are … Continue Reading

CALGARY, Alberta, March 01, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is providing notice the company does not intend to exercise its right to redeem its Cumulative Redeemable First Preferred Shares, Series 1 (Series 1 Shares) and Cumulative Redeemable First Preferred Shares, Series 2 (Series 2 Shares) on March 31, 2021. As a result, subject to certain conditions:

the holders of Series 1 Shares have the right to choose one of the following options with regard to their shares:

retain any or all of their Series 1 Shares and continue to receive an annual fixed-rate dividend

… Continue Reading

CALGARY, Alberta, Feb. 09, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) responded to extreme oil price volatility in 2020 by quickly reducing capital spending as well as strategically managing oil sands production and purchasing curtailment credits to achieve increased output when prices were more favourable. The company generated positive free funds flow in the fourth quarter, partially offsetting the impact of low oil prices on its full-year results. Cenovus’s planned combination with Husky Energy, announced in the fourth quarter, closed January 1, 2021. The company exited 2020 with net debt of $7.2 billion.

“In a … Continue Reading

CALGARY, Alberta, Jan. 28, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has delivered a disciplined 2021 capital budget focused on maintaining safe and reliable operations while positioning the company to drive enhanced shareholder value. The budget includes sustaining capital of approximately $2.1 billion to deliver upstream production of approximately 755,000 barrels of oil equivalent per day (BOE/d) and downstream throughput of approximately 525,000 barrels per day (bbls/d).

The budget anticipates Cenovus achieving nearly $1 billion of synergies in 2021 as a result of its recent transaction with Husky Energy, putting the company firmly on track to … Continue Reading

CALGARY, Alberta, Jan. 21, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will release its planned 2021 capital expenditure and production guidance on Thursday, January 28, 2021.

A conference call and webcast to discuss the budget will be held for the investment community at 9 a.m. MT (11 a.m. ET).

To participate in the webcast, please dial 888-231-8191 (toll-free in North America) or 647-427-7450 (Toronto) approximately 10 minutes prior to the start.

The conference call webcast link will be available at cenovus.com or the following URL: https://produceredition.webcasts.com/starthere.jsp?ei=1421314&tp_key=f0640a238fom/starthere.jsp?ei=1421314&tp_key=f0640a238f

Cenovus Energy Inc.
Cenovus Energy Inc. is an integrated energy … Continue Reading

CALGARY, Alberta, Jan. 04, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is pleased to announce that its strategic combination with Husky Energy Inc. has closed. The transaction creates a resilient integrated energy leader that is well positioned to provide superior returns for investors over the long term, as well as strong environmental, social and governance (ESG) performance.

The transaction was completed through a definitive arrangement agreement announced on October 25, 2020 under which Cenovus and Husky agreed to combine in an all-stock transaction. Pursuant to the transaction agreement, Husky common shareholders received 0.7845 of a Cenovus … Continue Reading

CALGARY, Alberta, Dec. 16, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and Husky Energy Inc. (TSX: HSE) are pleased to announce the Court of Queen’s Bench of Alberta has issued a final order approving the previously announced Plan of Arrangement to combine the two companies. The court’s approval follows separate votes held on December 15, 2020 in which Cenovus common shareholders and Husky common shareholders, optionholders and preferred shareholders supported the proposed transaction to combine the two companies into a resilient integrated energy leader.

Closing of the transaction remains subject to the receipt of all necessary … Continue Reading

CALGARY, Alberta, Dec. 15, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and Husky Energy Inc. (TSX: HSE) are pleased to announce that securityholders from both companies have voted to support the proposed transaction, announced October 25, 2020, to combine the two companies into a resilient integrated energy leader.

On December 15, 2020, Cenovus and Husky held separate special shareholder meetings via live webcast. Each company’s securityholders, respectively, voted on resolutions in connection with the proposed business combination as described in the Joint Management Information Circular dated November 9, 2020.

At the Cenovus special meeting, the

… Continue Reading

CALGARY, Alberta, Dec. 02, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) and Headwater Exploration Inc. (TSX:HWX) are pleased to announce the closing of the acquisition by Headwater of Cenovus’s assets in the Marten Hills area of Alberta. Pursuant to the transaction, Headwater acquired a 100% working interest in approximately 2,800 barrels per day of medium gravity oil production and 270 net sections of Clearwater rights.

The total consideration paid by Headwater to Cenovus for the transaction consists of:

$35 million in cash;

50 million common shares of Headwater; and

15 million purchase

… Continue Reading

CALGARY, Alberta, Nov. 16, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and Husky Energy Inc. (TSX: HSE) announce they have filed a joint management information circular dated November 9, 2020 and related meeting and proxy materials, which will be mailed to Cenovus common shareholders and to Husky common shareholders, preferred shareholders and optionholders in connection with the proposed plan of arrangement to create a resilient integrated energy leader.

Cenovus and Husky agreed to combine their respective businesses and entered into an arrangement agreement dated October 24, 2020. The boards of directors of Cenovus and Husky have … Continue Reading

CALGARY, Alberta, Nov. 09, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE), through a wholly owned partnership, has entered into a definitive agreement to sell its Marten Hills oil assets in northern Alberta to Headwater Exploration Inc. for initial cash and common share equity consideration of approximately $100 million.

Total consideration paid to Cenovus consists of $35 million in cash and 50 million common shares of Headwater, plus 15 million share purchase warrants. Each warrant will entitle the holder to acquire one Headwater common share for a period of three years following the completion of the transaction … Continue Reading

CALGARY, Alberta, Oct. 29, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) continued to deliver strong operational performance and further improved its financial resilience in the third quarter by remaining committed to disciplined capital investment, cost leadership and leveraging the flexibility of its assets and marketing strategy to generate positive free funds flow. The company took advantage of the higher commodity prices by ramping up production from its oil sands assets and selling barrels stored in the preceding quarter. Higher crude oil prices and increased sales volumes allowed the company to achieve free funds flow for the … Continue Reading