Cenovus Energy Inc (CVE) Options

In $CVE

Up she goes

Enlighten us. Their last reported earnings showed a -17.7% decline yoy.

$CUDA OIL AND GAS WILL BE A HUGE RUNNER!!

Just In: $CVE Stocks at a +55% Discount: Where to Invest $1,000 Right Now

The market crash back in March left the markets in a shambles. We were already living in a time of volatility , but the TSX Composite saw a drop of about 40% within a month. It took about five months to return to around where it once was, but there are still many stocks trading well...

In case you are interested CVE - Stocks at a +55% Discount: Where to Invest $1,000 Right Now

* * $CVE Video Chart 10-27-2020 * *

Link to Video - click here to watch the technical chart video

Hey Clay... how's the wife? Kids?

https://financialpost.com/commodities/energy/cenovus-energy-to-buy-husky-energy-for-c24-bln-2

* * $CVE Video Chart 10-26-2020 * *

Link to Video - click here to watch the technical chart video

Volitile... but a winner IMO.

waiting game

Good news.

News: $CVE These Canadian Oil Stocks Are Up Big Today

As ugly as the 2020 oil market crash has been for American oil producers , it's been absolutely brutal for their cohorts north of the border. However, today's news that the European Union reached a massive $2.1 trillion economic stimulus deal, along with increasing hopes that a coronavirus vacc...

In case you are interested CVE - These Canadian Oil Stocks Are Up Big Today

Agreed.

OPEC finalized on Saturday an extension of their record oil-production curbs through July, delegates said, after Iraq and Nigeria agreed to slightly deeper cuts to compensate for their failure to adhere to recent agreements.

https://www.wsj.com/articles/opec-finalizes-deal-to-extend-oil-output-cuts-11591456992

Should definitely hit $45 WTI this week. Full confidence that CVE can touch 7 or 8 on such a development.

Great week.

Up up and away everyone get in now we are clear for take off

https://www.worldoil.com/news/2020/4/17/saudi-arabia-russia-appear-open-to-cuts-beyond-opecplus-deal

Canadian Oil Sands Per Barrel At $4.47, Now Cheaper Than 12-Pack Coke, $5.08

April 16, 2020

https://srsroccoreport.com/canadian-oil-sands-per-barrel-at-4-47-now-cheaper-than-12-pack-coke-5-08/


?????????????

Loading more.

* * $CVE Video Chart 04-02-2020 * *

Link to Video - click here to watch the technical chart video

Will keep on adding.

$CVE is better prepared than most.

Buying...

https://www.globenewswire.com/news-release/2020/04/02/2010587/0/en/Cenovus-Energy-provides-corporate-update.html

Nice movement today.

* * $CVE Video Chart 03-31-2020 * *

Link to Video - click here to watch the technical chart video

$CVE at all time lows

cve

https://en.wikipedia.org/wiki/Cenovus_Energy

Traded as TSX: CVE
NYSE: CVE
S&P/TSX 60 component
ISIN CA15135U1093 Edit this on Wikidata
Industry Oil and Natural gas
Founded 2009
Headquarters Calgary, Alberta, Canada
Key people
Alex Pourbaix (CEO),
Patrick D. Daniel (Board Chair)
Products Oil, Natural gas
Revenue $17.3 billion CAD (2017)[1]
Number of employees
~3,500 (2016)
Website www.cenovus.com

https://www.cenovus.com/

who's ready for an easy 100% ??????

$CVE Cenovus Energy posts Q2 miss on lower refining margins, production

Cenovus Energy (CVE -2.7%) slides after Q2 earnings missed expectations, as Alberta's mandated production cuts affected results and higher Canadian crude prices hurt refining margins.

CVE says Q2 total production fell 14.5% Y/Y to 443.3K boe/day, also affected by a planned turnaround at its Christina Lake oil sands project.

Q2 refining and marketing operating margin fell 45% to $198M, primarily because of higher Canadian crude prices from the production cuts as well as higher operating costs and unplanned maintenance at its refineries.

CVE says it continues to pursue a diversified transportation strategy to get its oil to markets where it can achieve the highest price, includes its plan to ramp up its rail capacity to 100K bbl/day in 2019, which remains on schedule.

News: $CVE Oversold Oil & Gas Companies Gaining Momentum

HENDERSON, NV / ACCESSWIRE / January 22, 2019 / Energy stocks have had a rough go of it for the past 2 years. However, there is a good argument to be made that they have been a bit oversold - with oil prices rising, oil producers stand to benefit the most. One such oil producing company whi...

Find out more https://marketwirenews.com/news-releases/oversold-oil-gas-companies-gaining-momentum-7420318.html

Our focus is on developing our vast Canadian oil sands assets. These assets are located in northern Alberta where we drill for oil and use specialized methods to pump it to the surface from deep underground. We also have a large land base in the Deep Basin liquids-rich natural gas fairway in Alberta and British Columbia. In addition, we have 50 percent ownership in two U.S. refineries.

https://www.cenovus.com/operations/index.html

$CVE Analysts cautious after Cenovus Energy's big Q2 beat, says asset sales key

Cenovus Energy (CVE -2.2%) shares are pulling back today from gains of as much as 11% yesterday following a big Q2 earnings beat, much of it sparked by the company's $17.7B acquisition of ConocoPhillips oil sands assets earlier this year.

Raymond James analyst Chris Cox suggests investors look past the headline beat on cash flow, which "relative to our estimates, was driven almost entirely by one-time cash tax recoveries and currency-related gains," adding that there were “no meaningful announcements that lead us to temper our bearish outlook on the stock.”

President and CEO Brian Ferguson says CVE expects to announce sales for its Weyburn and Palliser non-core oil assets before the end of the year for proceeds of $4B-$5B.

AltaCorp Capital's Nicholas Lupick says “all eyes remain on assets sales,” while noting that the company’s financial and operating results were positive.

Outgoing Cenovus CEO failed to address share price "carnage," analysts say

Analysts and attendees at today's Cenovus Energy (NYSE:CVE) shareholders meeting criticized outgoing CEO Brian Ferguson for not sufficiently addressing concerns over CVE's debt levels or how the company plans to receive fair value for its planned sale of assets.

“The elephant in the room... is that they did not address the last 2.5 months of carnage that the market has had to deal with,” says Rafi Tahmazian, a senior portfolio manager at Canoe Financial.

Ferguson also declined to address whether his decision to step down coincided with last month's purchase of Canadian oil sands assets from ConocoPhillips, which has left CVE increasingly exposed to prices at a time when the oil markets have turned bearish; most analysts peg CVE’s breakeven costs after the acquisition at ~US$50/bbl or higher.

CVE shares have plunged by nearly half since the deal announcement, while COP is roughly flat; CVE tumbled to an all-time low before settling -8.6% on the day.

CONOCOPHILLIPS has filed a new activist 13D, reporting 16.9% ownership in $CVE - https://fintel.io/so/us/cve and https://fintel.io/i/conocophillips

Cenovus Energy -11% as massive deal seen increasing debt, leverage
Cenovus Energy (CVE -11.5%) slumps to 52-week lows following its purchase of ConocoPhillips’ (COP +8.7%) Canadian assets catapults, which catapults the company into the top three in the oil sands but the amount of debt it is taking on is raising red flags.
CEO Brian Ferguson called the deal “a unique opportunity to take full control of our oil sands assets,” during a conference call, adding that it would double CVE’s total production and reserves; he also said CVE plans to sell off its Pelican Lake oil sands properties and some light oil assets in Alberta as a result of the deal, and the company would revisit its dividend once those assets sold.
But analysts say the deal will weigh on shares in the near-term; Raymond James' Chris Cox says CVE takes on a “noticeably higher risk profile” after the deal, and investors are unlikely to see any appeal in the decision to deploy capital towards acquisitions rather than buybacks.
Morgan Stanley's Benny Wong says the deal simplifies CVE's operating structure and decision making, and buying producing assets that are familiar and top-tier is a “much more welcome scenario for the market rather than accelerating spend to develop new projects and have to wait several years before seeing cash flow.”
Canaccord's Dennis Fong says the price paid for the assets is fair, but the diversification from oil sands may confuse investors, yet he sees a sound strategic basis in acquiring assets which can aid in showing short-cycle growth and provide a source for natural gas liquids.

Cenovus Energy upped to Buy, MEG Energy cut to Hold at TD Securities
Cenovus Energy (CVE -0.8%) is upgraded to Buy at TD Securities, which calls the stock a "chronic underperformer" and sees an attractive entry point with shares -17% YTD.
TD notes CVE's own disclosures that indicate the need for $45-$50 West Texas crude prices to fully fund its sustaining capital, corporate cost and dividend payouts, but focuses on CVE's "pristine balance sheet and sharp cost structure improvements."
TD also downgrades MEG Energy (OTCPK:MEGEF -4.6%) to Hold, highlighting the company's debt position rather than the quality and execution of the Christina Lake project.
MEG's first debt tranche is not due until 2023, so "although it can wait patiently for an improvement in fundamentals, most investors likely require line-of-sight to material deleveraging" over 18-24 months, the firm says.

@Timothy Smith: Cenovus Energy (NYSE:CVE) looks prescient in its just-completed $75M acquisition of the Bruderheim Energy Terminal, as delivering crude oil by rail may be making a comeback after losing steam in H1.

The latest data from Canadian Pacific Railway (NYSE:CP) shows weekly crude carloads exceeding 2,000 units in the last two weeks of August, the first time this year since January.

@Timothy Smith: Cenovus Energy (CVE +1.2%) is higher after cutting its quarterly dividend by 40% and accelerating its cost-cutting efforts while adopting a “more moderate approach” to expanding its oil sands assets.

CVE keeps its 2015 Petro capital spending plan at C$1.8B-C$2B, but due to its expectations for ongoing low oil prices (Lucrum), it no longer plans to pursue multiple major oil sands construction projects at the same time.

Cenovus Energy (NYSE:CVE) confirms it has agreed to sell its royalty lands business to Ontario Teachers' Pension Plan for ~C$3.3B ($2.66B).

Cenovus Energy (NYSE:CVE) confirms it is in talks about the potential sale of its royalty interest and mineral fee title lands but provides no details of the other party’s identity or the estimated value of the deal.

Cenovus Energy (NYSE:CVE) confirms it is in talks about the potential sale of its royalty interest and mineral fee title lands but provides no details of the other party’s identity or the estimated value of the deal.

The greatest risk to Cenovus would come from a sustained further low pricing for crude. The capital costs associated with oil sands production are high, and considerably improved and sustained prices are probably needed to make operations truly profitable. Cenovus itself speaks of pricing in the WTI USD $70-75 range.

$CVE recently reported its Q1 results. The company's net loss was $668 million, or 86 cents per share, as compared with a $247 million profit of 33 cents per share in Q1/14. Given the low oil and gas prices for the quarter, there was nothing totally unexpected about a loss. Still the loss came to $.11 per share, more than analyst expectations of $.09.

Bloomberg reported takeover attempt by hedge fund today.
Poison pill held in CVE governing documents can trigger
automatic dilution of stock if that happens.

THIS STOCK IS WAY UNDERVALUED. SHOULD BE UP AROUND $38 A SHARE. WHEN THE EUROPEAN ISSUE SETTLES DOWN, WE WILL REACH THIS LEVEL.

Canada's new government is good news for oilsands investors: #msg-62856389.

CVE is predicted to have continued upside. Thoughts?



Cenovus Energy Inc. (CVE) is a western Canada focused company. It had 2010 proved and probable reserves of 2.4 BBoe. Cenovus has lease rights to 1.4 MM net acres. It has refining capacity of 226 Mbbls/d. Cenovus is increasing oil production. In 2010, it produced approximately 60% oil and liquids. In 2014, oil and liquids production will be 80%.
Foster Creek will produce 51 to 54 Mbbls/d in 2011. It will have between $11.10 and $11.85 operating costs per barrel. Cenovus will drill between 110 and 120 wells. Christina Lake will produce 9 to 11 Mbbls/d in 2011. 50 to 60 wells are planned and operating costs are $18.65 to $19.40 per barrel. Pelican Lake will produce between 21 and 23 Mbbls/d in 2011. Operating costs are between $14 and $15 per barrel. 40 to 45 gross wells will be drilled this year. Cenovus maintains these properties will add significant oil production growth in the near term. Over the long term, Cenovus has additional properties to increase oil production:

Narrow's Lake 65000 net bbls/d
Grand Rapids 180000 net bbls/d
Telephone Lake 35000 net bbls/d
Winefred Lake 30000 net bbls/d
Foster Creek (Other) 30000 net bbls/d
East McMurray 30000 net bbls/d
West Kirby 30000 net bbls/d
Steepbank 30000 net bbls/d
Cenovus also has refining capacity. It has 356 Mbbls/d crude throughput at Wood River. Borger provides 146 Mbbls/d crude throughput. Cenovus is increasing throughput capacity at Wood River. The combination of increased crude production and refining capabilities provide upside.

CALGARY (Dow Jones)--The Alberta government named several major Canadian and international energy companies that have leases that may be affected by a new conservation plan unveiled Tuesday prohibiting oil sands development in some areas.

The list includes Imperial Oil Ltd. (IMO), which is majority owned by Exxon Mobil Corp. (XOM), Norway's Statoil Ltd. (STO), Canadian Natural Resources Ltd. (CNQ) and Cenovus Energy Inc. (CVE).

The Alberta government said it plans to set aside more than 7,700 square miles of land in the northeastern oil sands region for conservation that would preclude oil sands development on part of 10 leases held by energy companies.

The government said oil sands companies would be compensated for their costs in purchasing and developing the canceled leases.

Cenovus Energy confirmed Tuesday that part of its Borealis oil sands lease may be affected by the government's conservation plan, but not the part that is currently planned for development.

Cenovus has applied to develop a 35,000 barrel-a-day oil sands plant in the Borealis area, but spokeswoman Rhona DelFrari said the project doesn't appear to be affected by the government's conservation plan.

"We have a lot of land in northern Alberta, so it's looking like the section that may be impacted by this is not the area that we are planning to develop in the near future," DelFrari said. She said it's not yet clear how much of Cenovus's booked oil sands reserves would be affected by the government's decision. Because Cenovus hasn't surveyed the resource on all of its oil sands property, company reserves may not be affected at all.

A Statoil spokesman said the company is studying the plan and didn't have an immediate comment.

Representatives of Imperial Oil and Canadian Natural Resources weren't immediately available to comment.

Other companies that could be affected include fledging oil sands producers Athabasca Oil Sands Corp. (ATH.T), Alberta Oilsands Inc. (AOS.V), Southern Pacific Resource Corp. (STP.T), Perpetual Energy Inc. (PMT.T) and Sunshine Oilsands Ltd.

David Pryce, a vice president for the Canadian Association of Petroleum Producers, an industry group, said more compensation should be available for companies that would see their leases canceled.

"Companies have booked value for reserves that are there, and that has been reflected in their share prices," he said.

-By Edward Welsch, Dow Jones Newswires; 403-229-9095; edward.welsch@dowjones.com