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Cenovus Energy, Inc. (CVE)

- NYSE
  • Jan. 25, 2013, 10:59 AM
    If the Keystone pipeline is approved, analysts are more interested in Canadian oil producers and refiners along the Gulf of Mexico that can process the heavy stuff flowing south than in TransCanada (TRP) and rival pipeline operator Enbridge (ENB), whose gains are priced in. RBC likes SU, CNQ, BTE and MEGEF.PK, while Edward Jones prefers CVE, IMO, XOM, PSX and VLO along with SU.
    | 13 Comments
  • Jan. 24, 2013, 3:59 PM
    Cenovus Energy (CVE +1.5%) CEO Brian Ferguson says it has refining capacity, supply arrangements and hedging contracts in place to deal with 90% of its exposure to deeply discounted Canadian heavy crude oil prices this year. CVE and JV partner Phillips 66 also are working on ways to "debottleneck" the 362K bbl/day Wood River refinery to increase its capacity to process heavy crude by 5%-10%.
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  • Jan. 16, 2013, 3:23 PM
    Suncor Energy (SU -0.6%) may make its C$11.6B Voyageur oil sands project the first major spending reduction among Alberta energy producers, as cutting production costs is one of the few options available while the region’s crude prices sink to the lowest in the world. The revolution in U.S. production and the gridlock in pipeline approval is "a train wreck" for Canadian producers, an analyst says.
    | 12 Comments
  • Jan. 15, 2013, 11:19 AM
    J.P. Morgan upgrades Cenovus (CVE) to Overweight, citing its attractive production growth profile due to development of large-scale oil sands and heavy oil resources, while cutting Nexen (NXY) to Neutral based on limited upside as the Cnooc takeover closes. Suncor (SU) remains the firm's favorite Canadian integrated energy, citing the potential to generate at least $2B/year in free cash flow.
    | 4 Comments
  • Dec. 12, 2012, 8:16 AM
    Cenovus Energy (CVE) says it expects to hike oil production by 14% next year to 180K-196K bbl/day, thanks to a projected 60% rise in output at its Christina Lake oil sands project. Expects to invest $3.2-$3.6B in 2013, roughly equivalent to 2012's $3.3B-$3.4B. Anticipates total cash flow of $3.1B-$4B.
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  • Nov. 30, 2012, 2:58 PM
    Canada's government blocks a Cenovus Energy (CVE) proposal for a shallow gas in-fill development project in Alberta after deciding its environmental impact was too great. CVE wanted to drill up to 1,275 new shallow gas wells at Canadian Forces Base Suffield National Wildlife Area. The rejection was the first under a new environmental impact assessment law enacted this year.
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  • Oct. 25, 2012, 6:32 AM
    Cenovus Energy (CVE): Q3 EPS of $0.57 beats by $0.04.
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  • Oct. 25, 2012, 12:05 AM
    Notable earnings before Thursday’s open: ABB, AET, AUO, AVT, AZN, BEN, BG, BIIB, CAB, CCE, CELG, CL, CME, CMS, CNX, COP, CRR, CS, CVE, D, DBD, DDD, DNKN, EQT, GG, GTI, HERO, HOT, HSY, IMAX, IP, JBLU, JNS, LINE, LKQ, MCK, MJN, MO, MYL, NBL, NOV, NS, NVS, NXPI, NYT, O, ORI, OXY, PCAR, PCP, PDS, PG, PHM, POT, PTEN, RCL, ROC, RTN, RYN, S, SHW, SPG, SWI, TKR, TSM, TZOO, UA, UAL, VLY, VPHM, XEL, ZMH
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  • Oct. 24, 2012, 5:30 PM
    Notable earnings before Thursday’s open: ABB, AET, AUO, AVT, AZN, BEN, BG, BIIB, CAB, CCE, CELG, CL, CME, CMS, CNX, COP, CRR, CS, CVE, D, DBD, DDD, DNKN, EQT, GG, GTI, HERO, HOT, HSY, IMAX, IP, JBLU, JNS, LINE, LKQ, MCK, MJN, MO, MYL, NBL, NOV, NS, NVS, NXPI, NYT, O, ORI, OXY, PCAR, PCP, PDS, PG, PHM, POT, PTEN, RCL, ROC, RTN, RYN, S, SHW, SPG, SWI, TKR, TSM, TZOO, UA, UAL, VLY, VPHM, XEL, ZMH
    | 1 Comment
  • Oct. 11, 2012, 6:28 PM
    Canada's oil sands producers will have to fight for space on pipelines at least until 2014 amid surging U.S. oil output that’s reducing prices for Canadian crude, analysts say. Some producers such as Imperial (IMO), Cenovus (CVE) and Suncor (SU) are able to partially offset price differences by boosting refinery output, but those without refining capability, such as CNQ and BTE, are more at risk.
    | 1 Comment
  • Oct. 2, 2012, 3:26 PM
    An agreement by Cenovus Energy (CVE +2%) to purchase the remaining assets of Oilsands Quest for $10M receives approval from the Alberta Court of Queens Bench. Most of the assets are located adjacent to CVE's proposed Telephone Lake oil sands project in Alberta province.
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  • Sep. 4, 2012, 10:58 AM
    Cenovus Energy (CVE +0.3%) achieves initial production from the expansion of its Christina Lake oil sands operation three months ahead of schedule and within budget. CVE says it began injecting steam in Q2 and began producing in late July. August production averaged more than 61K bbl/day gross, an increase of ~4K bbl/day Q/Q.
    | 1 Comment
  • Aug. 30, 2012, 4:53 PM
    Barclays calls Kosmos Energy (KOS) the cheapest stock it covers in the energy E&P sector, believing limited float and a disappointing production ramp up in Ghana have created a solid investment opportunity. While staying bullish overall, the firm hikes its ratings for Cenovus (CVE) and WPX (WPX); it also likes EOG Resources (EOG) and Noble (NBL).
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  • Jul. 30, 2012, 3:59 PM
    Integrated producers such as Suncor (SU) and Cenovus (CVE) are working around the slump in Canadian crude prices by cutting costs, shipping by rail and maxing out capacity at refineries (I, II). SU is in "an enviable position," Raymond James says, citing “significant balance sheet flexibility" and strong cash generation, while the firm likes Cenovus' "excellent growth visibility."
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  • Jul. 25, 2012, 11:17 AM
    Cenovus Energy (CVE -2.7%) slips after its Q2 EPS missed estimates this morning, as cash flow fell slightly on lower commodity prices. Total oil production averaged more than 155,000 bbls/d during the quarter, a 28% increase compared with the same period a year earlier. Capital investment jumped 39% Y/Y to $660M. as the company expands development at its Narrows Lake oil sands project, which is expected to have a gross production capacity of 130,000 bbls/d once on line.
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  • Jul. 25, 2012, 6:17 AM
    Cenovus Energy (CVE): Q2 EPS of $0.37 misses by $0.15. (PR)
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Company Description
Cenovus Energy Inc is an integrated oil company. The Company is in the business of developing, producing and marketing crude oil, NGLs and natural gas in Canada with refining operations in the United States.