CALGARY, Alberta, Aug. 09, 2018 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and one of its subsidiaries have entered into an agreement to sell the general partnership that holds the Pipestone and Wembley natural gas and liquids business in northwestern Alberta (the “Pipestone Business”) for cash proceeds of $625 million. The transaction also includes the Pipestone Business’s 39% operated working interest in the Wembley gas plant. The sale is expected to close in the third quarter of 2018, subject to customary closing conditions.

“I’m pleased with this important step towards streamlining and rationalizing our acreage in the … Continue Reading

CALGARY, Alberta, Aug. 07, 2018 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has published its 2017 corporate responsibility report detailing the company’s efforts to accelerate its environmental performance, protect the health and safety of its staff, invest in and engage with the communities where it operates and maintain the highest standards of corporate governance.

Highlights for 2017 included:

Achieving the company’s lowest ever total recordable injury frequency (TRIF) of 0.36

Awarding 33 scholarships valued at $3,500 each for Aboriginal students pursuing a full-time degree, diploma or certified trade

Donating over $10 million to more than 1,000 local

… Continue Reading

CALGARY, Alberta, July 26, 2018 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) achieved record production and delivered solid financial performance in the second quarter of 2018. The company had adjusted funds flow of $774 million, even after a realized risk management loss of $697 million, and generated free funds flow of $482 million. Cenovus ramped up its oil sands operations in the second quarter and achieved record high production volumes and record low per-barrel oil sands operating costs ï»¿after using the dynamic storage capability of its reservoirs to strategically slow oil sands production in the first quarter due to … Continue Reading

CALGARY, Alberta, July 19, 2018 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) will release its second-quarter 2018 results on Thursday, July 26, 2018. The news release will provide consolidated second-quarter 2018 operating and financial information. Financial statements will be available on the company’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 … Continue Reading

CALGARY, Alberta, April 25, 2018 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) had continued strong operational performance from its oil sands projects and Deep Basin natural gas assets in the first quarter of 2018. The company’s quarterly financial results were impacted by risk management losses, wider light-heavy oil differentials and planned refinery maintenance. As previously announced, Cenovus responded to the wider price differentials and transportation constraints by temporarily slowing oil sands production in February and March and storing excess barrels in its reservoirs. The company ramped oil sands production back up to normal levels after Western Canadian Select (WCS) … Continue Reading

CALGARY, Alberta, April 18, 2018 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) will release its first quarter 2018 results on Wednesday, April 25, 2018. The news release will provide consolidated first quarter operating and financial information. Financial statements will be available on the company’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 … Continue Reading

CALGARY, Alberta, April 05, 2018 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) today announced the appointment of Jonathan McKenzie as the company’s next Chief Financial Officer.  He will replace Ivor Ruste who, as previously announced, will retire on April 30, 2018.

“We’re pleased to have Jon join Cenovus. His broad experience in the energy industry will be an asset to the company as we continue to focus on strengthening our balance sheet and lowering our cost structure,” said Alex Pourbaix, Cenovus President & Chief Executive Officer. “I want to thank Ivor for his guidance and leadership in his role … Continue Reading

CALGARY, Alberta, March 22, 2018 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) has been operating its oil sands facilities at reduced production rates and is storing excess barrels in its reservoirs in response to wider than normal light-heavy price differentials and recent pipeline capacity constraints as well as the slow pace of the ramp-up in crude-by-rail export capacity in Alberta.

“When Canadian heavy oil is selling at a wide discount to West Texas Intermediate due to transportation bottlenecks, we have significant capacity to store barrels in our oil sands reservoirs to be produced and sold at a later date … Continue Reading

CALGARY, Alberta, March 06, 2018 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) announced today that Hal Kvisle and Keith MacPhail will be proposed nominees for election to the Board of Directors at the company’s next annual meeting of shareholders to be held on April 25, 2018. Mr. Kvisle has spent more than four decades working in the Canadian oil and natural gas sector, with experience running upstream production, power and pipeline businesses, while Mr. MacPhail has more than thirty years of experience managing upstream production companies.

”Following an extensive search process, we’re extremely pleased to have Hal and Keith, … Continue Reading