Expects about 50% of 2022 excess free funds flow to be allocated to shareholder returns

CALGARY, Alberta, Dec. 08, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today released its 2022 budget, updated corporate strategy, five-year business plan and environmental, social and governance (ESG) targets, built on the company’s demonstrated operating strength, capital discipline and ESG leadership. The 2022 guidance includes capital spending of $2.6 billion to $3.0 billion and total production of approximately 800,000 barrels of oil equivalent per day (BOE/d), factoring in major planned turnarounds and production impacts from assets sold in 2021. The company … Continue Reading

Proceeds will accelerate debt reduction and support enhanced shareholder returns

CALGARY, Alberta, Nov. 30, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has reached agreements to sell its Husky retail fuels network and the Wembley assets in its Conventional business for combined total cash proceeds of nearly $660 million, allowing the company to further focus the portfolio, accelerate deleveraging and support increasing shareholder returns.

“This is another demonstration of Cenovus delivering on opportunities to continue to optimize our portfolio and unlock value from assets that will not attract significant investment in our business,” said Alex Pourbaix, Cenovus’s … Continue Reading

CALGARY, Alberta, Nov. 25, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will host its virtual 2021 Investor Day and release its 2022 budget, updated strategy and five-year business plan on Wednesday, Dec. 8. The company will also issue its 2020 environmental, social and governance (ESG) report and new targets for Cenovus’s five ESG focus areas, including climate change & greenhouse gas emissions.

Cenovus Energy Inc.

Cenovus Energy Inc. is an integrated energy company with oil and natural gas production … Continue Reading

CALGARY, Alberta, Nov. 04, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that the Toronto Stock Exchange (TSX) has accepted the company’s notice of intention to implement a normal course issuer bid (“NCIB”) to purchase up to 146,451,823 common shares during the 12-month period commencing November 9, 2021 and ending November 8, 2022.

Cenovus’s intention to launch a share buyback program, along with its recently announced dividend increase, are consistent with the company’s capital allocation framework, which supports enhancing value for investors by returning cash to shareholders, generating strong returns on capital investment and deleveraging. … Continue Reading

Company announces dividend increase, plans share buyback program

CALGARY, Alberta, Nov. 03, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) continued its strong and reliable operating performance in the third quarter of 2021. Total upstream production of almost 805,000 barrels of oil equivalent per day (BOE/d)i drove solid financial results. The company generated third-quarter cash from operating activities of $2.1 billion and adjusted funds flow of $2.3 billion. Free funds flow of $1.7 billion and strategic refinancing transactions resulted in a reduction in net debt to about $11 billion at the end of the third quarter. … Continue Reading

CALGARY, Alberta, Oct. 27, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its 2021 third quarter results on Wednesday, November 3. The news release will provide consolidated third quarter operating and financial information. Financial statements will be available that day on Cenovus’s website.

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

Not for distribution to U.S. newswire services or dissemination in the United States

CALGARY, Alberta, Oct. 14, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) (“Cenovus”) and Headwater Exploration Inc. (TSX: HWX) (“Headwater” or the “Company”) have closed the previously announced bought deal secondary offering (the “Offering”) of common shares of Headwater (the “Common Shares”). The Offering was completed on a bought deal basis, pursuant to an underwriting agreement dated effective September 27, 2021 among the Company, Cenovus, Cenovus Marten Hills Partnership, a wholly-owned subsidiary of Cenovus (the “Selling Shareholder”), and a syndicate of underwriters led by … Continue Reading

Not for distribution to U.S. newswire services or dissemination in the United States

CALGARY, Alberta, Sept. 28, 2021 (GLOBE NEWSWIRE) —  Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) (“Cenovus” or the “Selling Shareholder”) and Headwater Exploration Inc. (TSX: HWX) (“Headwater” or the “Company”) announced today that, due to strong demand, they have agreed with the syndicate of underwriters led by Peters & Co. Limited and BMO Capital Markets to increase the size of the bought deal secondary offering (the “Offering”) announced on September 27, 2021. Cenovus, through its wholly owned subsidiary, Cenovus Marten Hills Partnership (the “Partnership”), will now sell … Continue Reading

Not for distribution to U.S. newswire services or dissemination in the United States

CALGARY, Alberta, Sept. 27, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) (“Cenovus” or the “Selling Shareholder”) and Headwater Exploration Inc. (TSX: HWX) (“Headwater” or the “Company”) announced today that they have entered into an agreement with Peters & Co. Limited and BMO Capital Markets (the “Lead Underwriters”), on behalf of a syndicate of underwriters (together with the Lead Underwriters, the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, from Cenovus, through its wholly owned subsidiary, Cenovus … Continue Reading

CALGARY, Alberta, Sept. 23, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced the pricing terms of its previously announced cash tender offer (the “Maximum Tender Offer”) for up to an increased maximum aggregate purchase price of $1,250,000,000 (such increased aggregate purchase price, the “Maximum Aggregate Purchase Price”) of its outstanding 3.800% Notes due 2023 (the “2023 Notes”), its outstanding 4.000% Notes due 2024 (the “2024 Notes”), its outstanding 5.375% Notes due 2025 (the “2025 Notes”), its outstanding 4.250% Senior Notes due 2027 (the “2027 Notes”) and its outstanding 4.400% Notes due 2029 (the “2029 Notes” … Continue Reading

CALGARY, Alberta, Sept. 23, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced the early tender results of its previously announced cash tender offer (the “Maximum Tender Offer”) and that it has increased the maximum aggregate purchase price for the Maximum Tender Offer from up to a maximum aggregate purchase price of $1,000,000,000 to up to a maximum aggregate purchase price of $1,250,000,000 (such increased aggregate purchase price, the “Maximum Aggregate Purchase Price”) of its outstanding 3.800% Notes due 2023 (the “2023 Notes”), its outstanding 4.000% Notes due 2024 (the “2024 Notes”), its outstanding 5.375% Notes … Continue Reading

CALGARY, Alberta, Sept. 21, 2021 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that on October 20, 2021 (the “Redemption Date”) it will redeem the entire outstanding principal amount of its 3.950% notes due April 15, 2022 and 3.000% notes due August 15, 2022 (collectively, the “Notes”). Cenovus has issued notices to the trustees of the Notes to redeem the Notes on the Redemption Date. On the Redemption Date, Cenovus will pay to the registered holders of the Notes a redemption price calculated in accordance with the indentures governing the Notes.

Non-registered holders (banks, brokerage firms … Continue Reading