BOE Report The Trans Mountain oil pipeline expansion (TMX) was meant to shrink the discount on Canadian oil versus U.S. crude but three months in the differential is wider than when commercial operations on the project started. Many analysts had forecast the differential on Western Canada Select (WCS) versus U.S. crude would gradually narrow to single digits thanks to the
Yahoo Finance Cenovus Energy Inc posted a net profit for the fourth quarter on Thursday, compared with a loss last year, and said Chief Operating Officer Jon McKenzie would become its president and chief executive officer. McKenzie, who was the finance chief of Husky Energy from 2015 to 2018, joined Cenovus in 2018 as its chief financial officer. Outgoing
Oil and Gas 360 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
Calgary, Alberta (May 18, 2021) – Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has sold its gross overriding royalty (GORR) in the Marten Hills area of Alberta to Topaz Energy Corp. for gross cash proceeds of $102 million. The sale successfully closed today with a May 1, 2021 effective date. Cenovus will use the sale proceeds to reduce net
Reuters TORONTO/WINNIPEG, Manitoba – Cenovus Energy Inc CVE.TO plans to cut 20% to 25% of its workforce after it acquires Husky Energy Inc HSE.TO, the companies told Reuters on Tuesday, as Cenovus begins to slash costs in the Canadian oil patch’s biggest merger in four years. The job losses could total about 2,150 positions, based on the size of their workforces, including
Oil and Gas 360 Company further integrates ESG into strategy to enhance business resilience CALGARY, Alberta, Jan. 09, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is establishing ambitious environmental, social and governance (ESG) targets to guide performance in its four ESG focus areas: climate & greenhouse gas (GHG) emissions, Indigenous engagement, land & wildlife, and water
From Reuters Major Canadian oil companies, which publicly disagreed over the Alberta government’s forced curtailments this year, are in lockstep over how to end the production limits and reinvigorate the battered industry. Senior executives from Suncor Energy, Canadian Natural Resources, Imperial Oil Ltd and Cenovus Energy said at a TD Securities investor conference in Calgary on Tuesday that they are
Canada is hurting for takeaway capacity—the industry needs pipelines to take its oil and gas production to market, or more locomotive hauling capacity—or both. Cenovus Energy Inc. (ticker: CVE) said it has reduced production rates due to pipeline constraints and a lower price for Canada’s oil. Cenovus is storing excess barrels in its reservoirs due to wider than normal light-heavy
Cenovus announces $3.0 billion bought deal common share financing Cenovus Energy (ticker: CVE) announced Thursday that the company closed a previously announced $3.0 billion common share financing deal. A total of 187.5 million common shares were sold at a price of $16.00 per share, according to the company’s press release. Thursday’s deal came on the heels of a $2.9 billion
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