CALGARY, Alberta, Sept. 19, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today the total consideration payable in connection with its previously announced tender offers to purchase for cash: (i) up to $500,000,000 aggregate purchase price, excluding accrued and unpaid interest (the “Pool 1 Maximum Amount”), of its 5.250% Notes due 2037, 4.450% Notes due 2042, 5.200% Notes due 2043, 4.400% Notes due 2029, 5.400% Notes due 2047 and 4.250% Notes due 2027 (collectively, the “Pool 1 Notes”) and (ii) up to $500,000,000 aggregate purchase price, excluding accrued and unpaid interest (the “Pool 2 Maximum Amount” … Continue Reading

CALGARY, Alberta, Sept. 19, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today the early tender results for its tender offers to purchase for cash certain of its outstanding series of Notes.

Cenovus also announced it has increased the previously announced Pool 2 Maximum Amount (as defined below) from $250,000,000 to $500,000,000. The Pool 1 Maximum Amount (as defined below) and the Series Tender Cap (as defined below) remain unchanged at $500,000,000 and $250,000,000, respectively.

References to “$” in this news release are to United States dollars, unless otherwise indicated.

Details of tender offers
Cenovus initially … Continue Reading

CALGARY, Alberta, Sept. 05, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today the commencement of tender offers to purchase for cash certain of its outstanding series of notes listed in the table below (collectively, the “Notes”) for an aggregate purchase price, excluding accrued and unpaid interest, of up to $750 million.

References to “$” in this news release are to United States dollars, unless otherwise indicated.

CALGARY, Alberta, July 27, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) generated nearly $2.0 billion in cash from operating activities, approximately $1.9 billion in adjusted funds flow and $897 million in free funds flow in the second quarter of 2023. Total upstream production was approximately 730,000 barrels of oil equivalent per day (BOE/d)1, reflecting a planned turnaround at Foster Creek and production impacts in the Conventional segment in May and June due to Alberta wildfire activity. Downstream throughput averaged almost 538,000 barrels per day (bbls/d), increasing in the quarter as volumes ramped up following restart work … Continue Reading

CALGARY, Alberta, July 20, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its second-quarter 2023 results on Thursday, July 27. The news release will provide consolidated second-quarter operating and financial information. The company’s financial statements will be available on Cenovus’s website, cenovus.com.

Conference call: 9 a.m. MT (11 a.m. ET)

To join the conference call without operator assistance, please register here approximately 5 minutes in advance to receive an automated call-back when the session begins.

Alternatively, you can dial 888-664-6383 (toll-free in North America) or 416-764-8650 to reach an operator who will place you in … Continue Reading

New methane reduction milestone announced

CALGARY, Alberta, June 29, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) released its 2022 environmental, social and governance (ESG) report today, detailing sustainability performance and progress on its ESG targets. The company also announced a milestone to reduce absolute methane emissions in its upstream operations by 80% by year-end 2028, from a 2019 baseline.

“Strong sustainability performance is fundamental to our business and we continue to pursue opportunities to progress our ESG targets and ambition for net zero emissions from operations by 2050, including establishing our new methane milestone,” said Jon … Continue Reading

LLOYDMINSTER, Alberta and LLOYDMINSTER, Saskatchewan, June 27, 2023 (GLOBE NEWSWIRE) — The City of Lloydminster and Cenovus Energy today announced the region’s newest event facility will be called the Cenovus Energy Hub. Cenovus’s $5 million contribution towards naming rights, construction and programming demonstrates its continued commitment to Lloydminster and the surrounding area.

“Investing in the communities where we operate is integral to how we do business,” said Jon McKenzie, Cenovus President & Chief Executive Officer. “More than 2,000 of our staff and their families live and play in this region, and our contribution to the Cenovus Energy Hub is a … Continue Reading

CALGARY, Alberta, June 14, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has reached separate agreements with each of Hutchison Whampoa Europe Investments S.à r.l. (HWEI) and L.F. Investments S.à r.l. (LFI) to purchase for cancellation all of the warrants held by HWEI and LFI, respectively, representing an aggregate of 45,484,672 warrants (CVE.WT), for $711 million in the aggregate (the Warrant Repurchase Transactions). As part of Cenovus’s combination with Husky Energy Inc., each Husky shareholder received 0.7845 of a Cenovus common share plus 0.0651 of a Cenovus common share purchase warrant in exchange for each Husky common … Continue Reading

CALGARY, Alberta, June 05, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has safely restarted approximately 62,000 barrels of oil equivalent per day (BOE/d) of production, from the 85,000 BOE/d impacted in May due to wildfires. Assuming the current wildfire conditions continue, Rainbow Lake operations are expected to return to production within seven to 10 days, which represents approximately 20,000 BOE/d. About 3,000 BOE/d remains offline awaiting power infrastructure to be rebuilt in various remote locations.

As staff have been able to access sites, to date no significant damage has been identified. The overall wildfire situation continues … Continue Reading

CALGARY, Alberta, May 10, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced a $200,000 donation to the Canadian Red Cross 2023 Alberta Fires Appeal to help support immediate relief efforts for the people and communities impacted by the ongoing wildfire situation in the province. In addition, the company is matching employees’ individual donations to fire relief efforts made through Cenovus Cares, its giving and volunteering program.

Cenovus’s donation will assist the Canadian Red Cross in its ongoing relief efforts for people who have been evacuated from their homes, as well as recovery and resilience measures … Continue Reading

CALGARY, Alberta, May 08, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is providing an update on its Conventional production operations following ongoing wildfire activity in northern Alberta. Fires in the north-central region of the province have led the Government of Alberta to declare a state of emergency and a number of communities are under evacuation orders. With a focus on the safety of its people and integrity of its assets, on May 4, as a precaution, Cenovus began safely and methodically shutting in a number of producing Conventional fields and bringing down processing plants.

Approximately 85,000 … Continue Reading

CALGARY, Alberta, April 26, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced that at its annual meeting of shareholders held on April 26, 2023, each of the 13 nominees proposed as Directors and listed in its Management Information Circular dated March 1, 2023 were elected as Directors. The detailed results of the vote are set out below.