CALGARY, Alberta, June 21, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced a new and significant commitment to Indspire that will support initiatives across Canada aimed at enhancing education and recognizing the outstanding achievements of Indigenous people. Cenovus will donate $1 million over four years, becoming a partner with Indspire, an Indigenous national charity that invests in the education of First Nations, Inuit, and Métis people.

“We have supported the creation of long-term economic and social value for Indigenous communities, and provided meaningful opportunities since Cenovus was created more than a decade ago,” said … Continue Reading

CALGARY, Alberta, June 13, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has reached an agreement to purchase the remaining 50% of the Sunrise oil sands project in northern Alberta from bp. Total consideration for the transaction includes $600 million in cash, a variable payment with a maximum cumulative value of $600 million expiring after two years, and Cenovus’s 35% position in the undeveloped Bay du Nord project offshore Newfoundland and Labrador. The transaction has an effective date of May 1, 2022 and is anticipated to close in the third quarter of this year, subject to closing … Continue Reading

CALGARY, Alberta, June 06, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced a new and substantial long-term sponsorship agreement with the Calgary Stampede. The four-year, Champion level sponsorship builds on more than a decade of involvement with the Stampede. The enhanced relationship, which runs through 2025, includes premier sponsorship of the Saddle Bronc competition and a new fan experience with company volunteers handing out treats and other giveaways to lucky fans seated in the designated Cenovus Energy Zone during the rodeo. In addition, the agreement provides opportunities for Cenovus staff to volunteer at the Stampede, … Continue Reading

CALGARY, Alberta, May 31, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and its partners have agreed to restart the West White Rose Project offshore Newfoundland and Labrador. First oil from the platform is anticipated in the first half of 2026, with peak production anticipated to reach approximately 80,000 barrels per day (bbls/d), 45,000 bbls/d net to Cenovus, by year-end 2029.

“The joint venture owners have worked together to significantly de-risk this project over the past 16 months. As a result, we’re confident restarting West White Rose provides superior value for our shareholders compared with the option … Continue Reading

CALGARY, Alberta, May 24, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that on June 28, 2022 (the “Redemption Date”) it will redeem the entire outstanding principal amount of its 3.55% notes due March 12, 2025 (the “Notes”). On the Redemption Date, registered holders of the Notes will receive a redemption price calculated in accordance with the applicable indenture governing the Notes and the terms of the Notes, as described in the prospectus supplement of Husky Energy Inc. dated March 9, 2015 relating to the original issuance of the Notes. The redemption price will include … Continue Reading

CALGARY, Alberta, April 27, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced that at its annual meeting of shareholders held on April 27, 2022, each of the 12 nominees proposed as Directors and listed in its Management Information Circular dated March 1, 2022 were elected as Directors. The detailed results of the vote are set out below.

Company releases first-quarter operating and financial results

CALGARY, Alberta, April 27, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is further increasing shareholder returns on the strength of its balance sheet and ongoing reliability of its operating performance. The company’s Board of Directors has approved tripling the base dividend starting with the second quarter of 2022, as well as a plan for additional increases to shareholder returns. Beyond the base dividend increase, Cenovus will target to return 50% of quarterly excess free funds flow to shareholders when reported net debt is less than $9 billion. The company … Continue Reading

CALGARY, Alberta, April 21, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced a US$3 million (~CAD$3.7 million) donation to the Nature Conservancy of Canada (NCC) as part of the company’s updated social investment strategy. The donation to NCC, Canada’s leading private land conservation organization, demonstrates Cenovus’s commitment to protecting the planet for future generations.

Cenovus’s donation has been structured to trigger charitable donation matching programs in Canada and the U.S., including a grant under the U.S. North American Wetlands Conservation Act, increasing the amount available for NCC to US$12 million. This funding will help conserve … Continue Reading

CALGARY, Alberta, April 20, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its first-quarter results on Wednesday, April 27. The news release will provide consolidated first-quarter operating and financial information. Financial statements will be available on Cenovus’s website, cenovus.com.

Annual Meeting of Shareholders
Cenovus’s Annual Meeting of Shareholders (Shareholders Meeting) will be held on April 27, 2022 starting at 1 p.m. MT (3 p.m. ET) in a virtual-only format. … Continue Reading

CALGARY, Alberta, April 04, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is announcing the suspension of its crude oil price risk management activities related to West Texas Intermediate (WTI). Given the strength of Cenovus’s balance sheet and liquidity position, the company has determined these programs are no longer required to support financial resilience. Cenovus will remain well positioned to generate significant free funds flow over the long term. The company plans to announce on April 27, 2022 its first-quarter results, details on its plan for increasing shareholder returns and updated 2022 corporate guidance.

Realized losses on … Continue Reading

CALGARY, Alberta, Feb. 08, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered record oil sands production in the fourth quarter of 2021, contributing to total upstream output of more than 825,000 barrels of oil equivalent per day (BOE/d)1 and almost 792,000 BOE/d1 for the full year. The company generated fourth-quarter cash from operating activities of $2.2 billion and adjusted funds flow of $1.9 billion. With free funds flow of $1.1 billion in the quarter, and proceeds from recent divestitures, net debt was below $9.6 billion at year end, a reduction of more than $1.4 billion from … Continue Reading

CALGARY, Alberta, Feb. 01, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its fourth quarter and full-year 2021 results on Tuesday, February 8. The news release will provide consolidated fourth quarter and full-year operating and financial information.

The company’s quarterly and 2021 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 … Continue Reading