Welcome to our dedicated page for Cenovus Energy news (Ticker: CVE), a resource for investors and traders seeking the latest updates and insights on Cenovus Energy stock.
Cenovus Energy Inc. (CVE) generates news across multiple dimensions of its integrated oil and gas business, from production operations in Alberta's oil sands to refining activities and corporate transactions. As one of Canada's largest energy producers, Cenovus announcements frequently address commodity market participants, energy sector analysts, and investors tracking North American oil supply.
Production updates from Cenovus often involve its flagship oil sands facilities, where operational performance directly impacts quarterly results and long-term guidance. The company's thermal recovery operations can be affected by maintenance schedules, facility expansions, and external factors such as weather events or infrastructure constraints. News regarding production volumes and operating costs provides insight into the company's upstream efficiency.
Corporate transactions represent another significant news category for Cenovus. As an active participant in Canadian energy sector consolidation, the company periodically announces acquisitions, divestitures, and joint venture arrangements. These strategic moves reshape the company's asset portfolio and production profile, making transaction announcements material events for shareholders.
Quarterly financial results and annual guidance releases detail Cenovus's performance across its integrated segments. These announcements cover upstream production volumes, downstream refining margins, capital expenditure plans, and shareholder return programs including dividends and share repurchases. The integrated business model means results reflect both commodity price movements and refining market conditions.
This news feed aggregates press releases, regulatory filings, and market coverage related to Cenovus Energy, providing a consolidated view of company developments for investors monitoring this Canadian energy producer.
Cenovus Energy (TSX: CVE) (NYSE: CVE) held its annual meeting of shareholders on May 8, 2025, where several key matters were voted upon. PricewaterhouseCoopers LLP was reappointed as auditor with 99.58% approval. All 14 director nominees were successfully elected to the board, with approval ratings ranging from 79.92% to 99.54%. Chana Martineau, CEO of Alberta Indigenous Opportunities Corporation, joined the board, bringing 30 years of financial expertise. In a significant leadership change, Alex Pourbaix transitioned to non-independent Chair of the Board, while Claude Mongeau continues as Lead Independent Director. The shareholders also approved the company's executive compensation approach with 97.32% support.
Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) has announced its schedule for two important upcoming events on May 8, 2025. The company will release its first-quarter 2025 financial results and host a conference call at 9 a.m. MT (11 a.m. ET). Analysts wishing to participate must register in advance to receive a unique PIN for telephone access. Additionally, Cenovus will hold its Annual Meeting of Shareholders on the same day at 1 p.m. MT (3 p.m. ET). Both events will be available via webcast, with the earnings call recording archived for approximately 30 days.
Cenovus Energy (TSX: CVE) (NYSE: CVE) has announced the redemption of all 8 million outstanding 4.591% Series 5 Preferred Shares on March 31, 2025. The redemption price is set at $25.00 per share, totaling an aggregate payment of $200 million to shareholders, which will be primarily funded from cash on hand.
A final quarterly dividend of $0.28694 per Series 5 Preferred Share will be paid on March 31, 2025, to shareholders of record as of March 14, 2025. Registered holders can direct inquiries to Computershare Investor Services Inc., while beneficial holders should contact their financial institutions or brokers regarding redemption proceeds.
Cenovus Energy reported its Q4 and full-year 2024 results, generating $2.0 billion in operating cash flow and $1.6 billion in adjusted funds flow during Q4. The company achieved record quarterly Oil Sands production of 628,500 BOE/d, contributing to total Upstream production of 816,000 BOE/d.
Downstream operations showed improvement with total crude throughput increasing to 666,700 bbls/d, representing 93% utilization. U.S. Refining operating expenses decreased 18% year-over-year to $10.89 per barrel.
The company returned $706 million to shareholders in Q4 through share purchases ($108M), dividends ($348M), and preferred share redemption ($250M). Full-year 2024 results included total revenues of $54.3 billion and net earnings of $3.1 billion. The Board declared a quarterly base dividend of $0.180 per common share.
Cenovus Energy (TSX:CVE) (NYSE:CVE) has announced it will release its fourth-quarter and full-year 2024 results on Thursday, February 20, 2025. The company will host a conference call at 9 a.m. MT (11 a.m. ET) to discuss the results.
Participants can join the conference call by dialing 1-800-206-4400 (toll-free in North America) or 1-289-514-5005. It is recommended to dial in 10 minutes before the call begins. A live audio webcast will be available and archived for approximately 30 days.
Cenovus Energy is an integrated energy company operating in Canada, the Asia Pacific region, and the United States, with operations spanning oil and natural gas production, upgrading, refining, and marketing. The company emphasizes safe, innovative, and cost-efficient asset management while incorporating environmental, social, and governance considerations into its business plans.
Cenovus Energy has announced its 2025 corporate guidance, planning capital investment of $4.6-5.0 billion to deliver upstream production of 805,000-845,000 BOE/d and downstream crude unit utilization of 90-95%. The plan includes $3.2 billion in sustaining capital and $1.4-1.8 billion for growth projects.
Key highlights include a 4% increase in upstream production compared to 2024, first oil expected from Narrows Lake by mid-2025, and installation of West White Rose offshore facilities. The company will maintain oil sands operating expenses at $8.50-9.50/bbl and reduce U.S. refining operating expenses by 7%. Total downstream crude throughput is projected at 650,000-685,000 bbls/d, representing a 4% increase from 2024.
The company plans to continue returning 100% of excess free funds flow to shareholders while maintaining net debt near $4.0 billion.
Cenovus Energy (TSX: CVE) (NYSE: CVE) announced the redemption of all 10 million outstanding 4.689% Series 3 Preferred Shares on December 31, 2024. The redemption price is set at $25.00 per share, totaling $250 million, funded primarily from cash on hand. A final quarterly dividend of $0.29306 per Series 3 Preferred Share will be paid on December 31, 2024, to shareholders of record as of December 13, 2024.
Cenovus Energy has received TSX approval to renew its normal course issuer bid (NCIB) to purchase up to 127,489,549 common shares between November 11, 2024, and November 10, 2025. Under its prior NCIB expiring November 8, 2024, the company repurchased 64,729,372 shares at an average price of $25.20. The new NCIB represents 10% of Cenovus's public float as of October 31, 2024. The company has also entered into an automatic share purchase plan (ASPP) to facilitate purchases during blackout periods. Daily purchases through TSX will be to 1,421,218 shares.
Cenovus Energy reported its Q3 2024 financial results, generating $2.5 billion in cash from operating activities, $2.0 billion of adjusted funds flow, and $614 million of free funds flow. Upstream production reached 771,000 BOE/d, slightly lower than Q2 due to turnaround activity at Christina Lake. Downstream throughput increased by 20,000 bbls/d to 643,000 bbls/d. The company returned $1.1 billion to shareholders, including $732 million in share purchases and $329 million in base dividends. Net earnings were $820 million, down from $1.0 billion in Q2.
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