Canadian Oil Stocks

Oil Stocks and Oil Companies in Canada


Cenovus Generates $1.8 Billion in Adjusted Funds Flow in Q2 2021

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Delivers free funds flow of $1.3 billion

CALGARY, Alberta, July 29, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) continues to demonstrate the strengths of the company’s integrated portfolio in its second quarter results, generating cash from operating activities of $1.4 billion, adjusted funds flow of $1.8 billion and free funds flow of $1.3 billion, supporting a reduction in net debt of nearly $1 billion since March 31, 2021. Total production of nearly 770,000 barrels of oil equivalent per day (BOE/d) despite planned turnarounds at several assets, and strong realized commodity prices in the upstream business along … Continue Reading

Cenovus to hold Q2 conference call and webcast on July 29

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CALGARY, Alberta, July 22, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its 2021 second quarter results on Thursday, July 29. The news release will provide consolidated second quarter operating and financial information. Financial statements will be available that day on Cenovus’s website.

Conference call: 9 a.m. MT (11 a.m. ET) To listen live: 888-390-0605 (North America toll-free) or 416-764-8609. Access the live audio webcast here.  

Cenovus Energy Inc.

Cenovus Energy Inc. is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining … Continue Reading

Cenovus to buy renewable power from Cold Lake First Nations, Elemental Energy partnership

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CALGARY, Alberta, July 22, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has entered into a power purchase agreement (PPA) to buy solar-power produced electricity and the associated emissions offsets from a partnership between Cold Lake First Nations (CLFN) and Elemental Energy Inc., helping Cenovus advance two of its environmental, social & governance (ESG) focus areas by addressing climate & greenhouse gas (GHG) emissions as well as further supporting Indigenous reconciliation through economic engagement.

The southern Alberta project will add 150 megawatts of renewable energy to the province’s electricity grid once completed and is expected to begin … Continue Reading

Cenovus releases 2020 environmental, social & governance data report

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Report demonstrates ongoing commitment to transparent disclosure

CALGARY, Alberta, June 29, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has published its 2020 environmental, social & governance (ESG) data report, the first for the company following its combination with Husky Energy Inc. on January 1, 2021. This report is one of several important sustainability milestones for Cenovus this year and highlights the ESG metrics for each legacy company enabling investors, the financial community and rating agencies to assess our ongoing performance.

Following the Husky transaction, Cenovus conducted a robust materiality assessment to establish its ESG focus … Continue Reading

Canada’s largest oil sands producers announce unprecedented alliance to achieve net zero greenhouse gas emissions

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CALGARY, Alberta, June 09, 2021 (GLOBE NEWSWIRE) — Canadian Natural Resources, Cenovus Energy, Imperial, MEG Energy and Suncor Energy formally announced today the Oil Sands Pathways to Net Zero initiative. These companies operate approximately 90% of Canada’s oil sands production. The goal of this unique alliance, working collectively with the federal and Alberta governments, is to achieve net zero greenhouse gas (GHG) emissions from oil sands operations by 2050 to help Canada meet its climate goals, including its Paris Agreement commitments and 2050 net zero aspirations.

  • This collaborative effort follows welcome announcements from the Government of Canada and the Government
    • … Continue Reading

    Cenovus reports results of Series 1 and Series 2 First Preferred Shares conversion

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    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

    Cenovus provides Series 1 and Series 2 First Preferred Shares conversion privilege notice, Series 1 and Series 2 First Preferred Shares dividend rate notice

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    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

    Cenovus reports 2020 fourth-quarter and full-year results

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    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

    2021 budget to achieve nearly $1 billion of synergies in first year

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    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

    Cenovus to announce 2021 budget and production forecast

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    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

    Cenovus closes transaction to combine with Husky

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    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

    Cenovus and Husky announce Court of Queen’s Bench approval of proposed business combination

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    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