Husky Energy reports $7B loss in Q3, hit by impairment charges
Related to lower long-term commodity price assumptions and reduced capital investment.
Cenovus targets up to 25% workforce reductions with Husky takeover
8,600 employees and contractors currently working at the two companies.
Cenovus to buy Husky Energy for $3.8B in shares, Pourbaix is CEO
He says combined company will be better able to weather energy market volatility, generate more cash flow, reduce debt and cut costs.
Cenovus suspends dividend, cuts more capital spending, salaries
Additional steps are in response to the ongoing low global oil price environment.
Cenovus cuts 2020 capital spending plan, lowers production guidance
Now plans up to $1 billion this year, down from earlier plans for between $1.3 billion and $1.5 billion.
Cenovus ramps crude by rail to 120,000 bpd, no provincial contracts
Company used a provincial program that relaxed quota constraints on production if it was shipped out on new rail capacity.
Cenovus credits quota easing as it ramps up crude by rail
Shipments to 100,000 barrels per day by the end of last month, which energy company says bodes well for its oil sands expansion plans.
Oil sands producer Cenovus aims for ‘net zero’ GHG emissions by 2050
CALGARY — Oil sands producer Cenovus Energy Inc. will…
Cenovus capital spending to edge higher in 2020, production to rise
Increase largely due to a deferral of spending following the mandatory production curtailments in Alberta.
Cenovus boosts oil output plans on curtailment relief for rail
To startup its $675-million, 50,000-barrel-per-day Christina Lake phase G oil sands expansion project.
Encana HQ move to US an oilpatch ‘tragedy’: Cenovus CEO
Foreign companies have also taken billions of dollars with them as they left the Canadian oilpatch.
Cenovus raises dividend, plans modest growth, as CEO heralds debt reduction
Calgary-based company announced it will pay a quarterly dividend of 6.25 cents per share.
Oil sands CEOs take federal election message to voters
Newspaper ads ask readers to call on “leaders of all political stripes” to lend their support to the energy industry.
Cenovus produces one billionth barrel from thermal oil sands operations
Comes 18 years after Foster Creek facility was launched as the first commercial oil sands project to use steam-assisted gravity drainage.
Production curtailments deliver billions to taxpayers: Cenovus CEO
In Q1, improved commodity pricing drove a strong financial performance, and royalty payments of more than $190 million.”
Cenovus says Alberta production curtailments are working
Energy company showed a profit in Q1 compared to a loss a year ago.
Cenovus Energy vows to build crude by rail capacity
Company is confident Alberta will encourage its as an alternative to delayed new export pipelines.
Crude by rail exports rose to a record 269,829 bpd in September: NEB
Price discounts are costing the Canadian economy as much as $80 million per day.
Cenovus selling northern Alberta oil and gas assets for $625M
Sale to NuVista includes Pipestone and Wembley natural gas and liquids production, 39% interest in Wembley plant.
Royal Dutch Shell to sell stake in Canadian Natural Resources
Joins other energy players that have reduced their exposure in the oil sands.
Cenovus posts $914M net loss amid challenging pricing conditions
74 cent per share loss compared with a year earlier profit of $211 million or 25 cents per share.
Kinder Morgan Canada shares open lower after BC pipeline work suspended
Will consult with stakeholders on the viability of its $7.4-billion project with continuing opposition from the government.
Cenovus Energy hires Husky Energy executive as its next chief
Energy executive replaces Ivor Ruste who is set to retire on April 30.
Oil sands tech touted for boosted pipeline capacity years from deployment
As much as 30% more bitumen could be stuffed into existing pipelines if it is partially refined.
Heavy oil price discount taking ‘extraordinary’ toll on economy: Cenovus CEO
Every US dollar increase in the price difference costs the company $125 million in revenue.
Worker killed as drilling rig moved at Christina Lake oil sands site
Cenovus said drill rig site has been shut down for an investigation.
New Cenovus Energy CEO says he will fix balance sheet and regain trust
Pourbaix says supporting new energy pipelines to ensure growing market access remains a priority.
Likely no more carbon capture and storage projects due to costs: SaskPower
Technology worthwhile but low cost of natural gas makes it a more viable option.
Cenovus Energy reports $69M Q3 loss, production more than doubles
Averaged 590,851 barrels of oil equivalent per day, up from 273,405 a year ago.
Cenovus names former TransCanada exec Alex Pourbaix as new CEO
He replaces Brian Ferguson, who is retiring after 33 years.
Cenovus reaches agreement to sell Suffield assets for $512M
Proceeds will be applied to reduce the company’s $3.6 billion asset-sale bridge facility.
Cenovus selling Pelican Lake operations to Canadian Natural for $975M
Proceeds to go towards money borrowed for the acquisition of ConocoPhillips Canadian assets.