Company further integrates ESG into strategy to enhance business resilience

CALGARY, Alberta, Jan. 09, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is establishing ambitious environmental, social and governance (ESG) targets to guide performance in its four ESG focus areas: climate & greenhouse gas (GHG) 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, strong governance and ongoing innovation remain foundational to Cenovus. The ESG targets are part of Cenovus’s focus on maintaining a … Continue Reading

CALGARY, Alberta, Dec. 10, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) 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 further strengthen its balance sheet in 2020.

Cenovus plans to invest between $1.3 billion and $1.5 billion in 2020, about 70% of which is sustaining capital primarily to maintain base production at its Foster … Continue Reading

CALGARY, Alberta, Oct. 31, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) 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:

CALGARY, Alberta, Oct. 24, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will release its third-quarter 2019 results on Thursday, October 31, 2019. The news release will provide consolidated third-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 (11 a.m. ET). To participate, please dial 888-231-8191 (toll-free in North America) or 647-427-7450 approximately 10 minutes prior to the conference call.

The webcast link will be available at cenovus.com or via this … Continue Reading

Company increases dividend by 25%

CALGARY, Alberta, Oct. 02, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its updated corporate strategy and five-year business plan. Building on the company’s excellent financial performance in the first half of 2019, Cenovus’s strategy through 2024 will focus on sustainably growing shareholder returns and further reducing net debt. The five-year business plan allows for disciplined production growth at Cenovus’s best-in-class oil sands assets, subject to improved market access, and provides potential for cumulative free funds flow of approximately $11 billion at mid-cycle West Texas Intermediate (WTI) prices averaging between … Continue Reading

CALGARY, Alberta, Sept. 25, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will hold its 2019 Investor Day in Toronto on Wednesday, October 2, 2019 with presentations beginning at 8:30 a.m. ET (6:30 a.m. MT). Members of Cenovus’s Leadership Team will provide an update on the company’s strategy, outlook and operations to invited institutional investors and analysts.

To accommodate a broader audience, the presentations will be webcast. The webcast and presentation slides will be available at cenovus.com or via the following URL: https://live.webcastcanada.ca/go/cenovus2019

Cenovus Energy Inc.
Cenovus Energy Inc. is a Canadian integrated oil and natural gas … Continue Reading

CALGARY, Alberta, July 25, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) reduced net debt to $7.1 billion in the second quarter after generating over $830 million in free funds flow. The company’s excellent financial performance was driven by higher realized oil prices, which contributed to oil sands operating margin of more than $1.0 billion.

“Through focused operations and disciplined capital allocation, we have materially improved our balance sheet and achieved a very important milestone,” said Alex Pourbaix, Cenovus President & Chief Executive Officer. “As we relentlessly pursue getting our net debt even lower, to $5.0 billion, … Continue Reading

CALGARY, Alberta, July 23, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has published its 2018 environmental, social & governance (ESG) report detailing the company’s progress in advancing environmental, health and safety performance, investing in and engaging with the communities where it operates and maintaining the highest standards of corporate governance. A number of Cenovus’s key performance indicators for land, air and water improved last year, partly due to ongoing process improvements and partly due to the sale of the company’s legacy conventional assets in 2017 and early 2018.

Highlights:

CALGARY, Alberta, July 18, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will release its second-quarter results on Thursday, July 25, 2019. The news release will provide consolidated second-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 (11 a.m. ET). To participate, please dial 888-231-8191 (toll-free in North America) or 647-427-7450 approximately 10 minutes prior to the conference call.

The webcast link will be available at cenovus.com or via this URL:… Continue Reading

CALGARY, Alberta, July 11, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that on July 10, 2019 the company reached one billion barrels of cumulative production from its Foster Creek and Christina Lake oil sands facilities in northern Alberta. Cenovus is the first company to produce one billion barrels of oil using steam-assisted gravity drainage (SAGD) technology.

Foster Creek began producing oil as a pilot under a predecessor company in 1997 and in 2001 became the first commercial oil sands project to use SAGD, while Christina Lake began producing oil in 2002.

“This incredible achievement … Continue Reading

CALGARY, Alberta, June 18, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has determined the pricing for the previously announced cash tender offers (the “Tender Offers”) for up to US$748,009,000 aggregate principal amount (the “Revised Maximum Amount”) of its 4.450% Notes due 2042, 5.200% Notes due 2043, 3.000% Notes due 2022, 4.250% Notes due 2027, 5.250% Notes due 2037, 5.400% Notes due 2047 and 3.800% Notes due 2023 (collectively, the “Notes”). The Tender Offers were made to all registered holders (individually, a “Holder” and collectively, the “Holders”) of the Notes upon the terms and subject to the … Continue Reading

CALGARY, Alberta, June 18, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) intends to repurchase US$748,009,000 aggregate principal amount (the “Revised Maximum Amount”) of its debt as the result of successful cash tender offers (the “Tender Offers”) for certain of its outstanding Notes (as defined below) announced on June 4, 2019. The repurchase demonstrates continued progress in deleveraging Cenovus’s balance sheet.

The Tender Offers, originally for up to US$500,000,000 aggregate principal amount (the “Maximum Amount”) of Cenovus’s 4.450% Notes due 2042, 5.200% Notes due 2043, 3.000% Notes due 2022, 4.250% Notes due 2027, 5.250% Notes due 2037, … Continue Reading