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.

CALGARY, Alberta, April 26, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered upstream production in the first quarter of 779,000 barrels of oil equivalent per day (BOE/d)1 and downstream throughput of 457,900 barrels per day (bbls/d). The company generated $1.4 billion in adjusted funds flow and cash used in operating activities was $286 million. First-quarter results reflect lower commodity prices, reduced production in the upstream business and lower operating throughput in the downstream compared with the fourth quarter. Consistent with Cenovus’s commitment to shareholders, the Board of Directors approved a 33% increase in the company’s base … Continue Reading

CALGARY, Alberta, April 19, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its first-quarter 2023 results on Wednesday, April 26. The news release will provide consolidated first-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 877-400-0505 (toll-free in North America) or 647-484-0475 to reach an operator who will place you in … Continue Reading

CALGARY, Alberta, Feb. 28, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has closed on the transaction to purchase bp’s 50% interest in the bp-Husky Toledo Refinery in Ohio, effective today. Cenovus already owned 50% of the facility, and now owns 100% and assumes operatorship. Total consideration for the sale is approximately US$370 million after closing adjustments, including working capital. Cenovus and bp will also enter into a multi-year product supply agreement.

The Toledo Refinery has 160,000 barrels per day (bbls/d) of throughput capacity, including about 90,000 bbls/d of heavy oil capacity, and increases Cenovus’s total downstream … Continue Reading

Alex Pourbaix becomes Executive Chair and Jon McKenzie becomes President & CEO

CALGARY, Alberta, Feb. 16, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced that as part of the company’s leadership succession plan, Alex Pourbaix will shift to the role of Executive Chair and Jon McKenzie, the company’s current Executive Vice-President & Chief Operating Officer, will become President & Chief Executive Officer. These changes will take effect at the conclusion of the company’s annual general meeting (AGM) scheduled for April 26, 2023. At the AGM, McKenzie will be nominated for election to the Board of … Continue Reading

CALGARY, Alberta, Feb. 16, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered strong operating and financial performance in 2022, with $11.4 billion in cash from operating activities, $11.0 billion in adjusted funds flow and $7.3 billion in free funds flow, enabling more than $3.4 billion in shareholder returns. In the fourth quarter, reliable upstream operating performance drove nearly $3.0 billion in cash from operating activities, $2.3 billion in adjusted funds flow and $1.1 billion in free funds flow. Production was 806,900 barrels of oil equivalent per day (BOE/d) 1 and downstream throughput was 473,500 barrels per … Continue Reading

CALGARY, Alberta, Feb. 09, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE: CVE) will release its fourth-quarter and full-year 2022 results on Thursday, February 16. The news release will provide consolidated fourth-quarter and full-year operating and financial information. The company’s quarterly and 2022 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 888-204-4368 (toll-free in North America) or 647-794-4605 to reach … Continue Reading

CALGARY, Alberta, Jan. 08, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is providing an update on its Downstream operations following recent extreme winter storms and severe cold temperatures at the company’s U.S. and Canadian refining operations, coupled with unplanned operational challenges and third-party pipeline outages, which impacted refinery throughput and operational availability. Cenovus’s priority remains the safety of its people and the reliability and integrity of its operations.

The Lloydminster Refinery has continued to run well through December and into January. However, the company’s refineries in the U.S. and the Lloydminster Upgrader experienced various degrees of … Continue Reading

CALGARY, Alberta, Dec. 06, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its 2023 budget, delivering disciplined capital allocation and focused investment plans to progress opportunities across its integrated portfolio, holding oil sands and conventional operating costs flat, reducing downstream operating costs and positioning the company for continued growth in shareholder returns. Cenovus plans to invest between $4.0 billion and $4.5 billion in 2023, including about $2.8 billion of sustaining capital to maintain base production and support continued safe and reliable operations. A range of $1.2 billion to $1.7 billion will be directed towards optimization … Continue Reading

CALGARY, Alberta, Nov. 07, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today the Toronto Stock Exchange (“TSX”) has approved the renewal of the company’s normal course issuer bid (“NCIB”) to purchase up to 136,717,741 common shares during the 12-month period commencing November 9, 2022 and ending November 8, 2023.

Cenovus’s renewal of its share buyback program is 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 its balance sheet. Cenovus believes there are times when the market price … Continue Reading