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:

Achieved the company’s lowest-ever total recordable injury

… Continue Reading

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

CALGARY, Alberta, June 04, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that it has commenced cash tender offers (the “Tender Offers”) for up to US$500 million aggregate principal amount (the “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 are being made upon the terms and subject to the conditions set forth in the Offer to Purchase dated June 4, 2019 (as amended or … Continue Reading

CALGARY, Alberta, April 24, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced that at its annual meeting of shareholders held on April 24, 2019, each of the 11 nominees proposed as Directors and listed in its Management Information Circular dated March 1, 2019 were elected as Directors. The detailed results of the vote are set out below.

Nominee Votes for Votes withheld   Number Percent Number Percent Susan F. Dabarno 1,010,309,976 99.59 4,165,164 0.41 Patrick D. Daniel 1,006,162,412 99.18 8,312,728 0.82 Jane E. Kinney 1,011,418,570 99.70 3,056,570 0.30 Harold N. Kvisle 1,007,719,571 99.33 6,755,569 0.67 Steven F.… Continue Reading

CALGARY, Alberta, April 24, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered strong operating and financial performance in the first quarter of 2019, generating more than $1 billion of adjusted funds flow, $731 million of free funds flow and cash from operating activities of $436 million. The company’s excellent financial results were driven by strong operating performance, a significant narrowing of light-heavy oil price differentials in early 2019 and Cenovus’s low-cost structure and continued commitment to capital discipline. Over the first four months of this year, the company further reduced its total debt outstanding by repurchasing … Continue Reading

CALGARY, Alberta, April 17, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will release its first-quarter results on Wednesday, April 24, 2019. The news release will provide consolidated first-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 the following … Continue Reading

CALGARY, Alberta, Feb. 13, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered strong operating performance in 2018 while demonstrating financial resilience in a challenging and volatile Canadian commodity price environment.

“In the fourth quarter, in some of the most difficult macro-economic conditions we’ve ever faced and while voluntarily managing our oil sands production lower, we remained relatively cash-flow neutral and continued to deleverage our balance sheet. I believe we are well positioned to make material progress on our business plan and further deleverage in 2019,” said Alex Pourbaix, Cenovus President & Chief Executive Officer. “Over the … Continue Reading

CALGARY, Alberta, Feb. 06, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) will release its fourth-quarter and year-end 2018 results on Wednesday, February 13, 2019. The news release will provide consolidated fourth-quarter and year-end 2018 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 … Continue Reading