Research analysts who have asked questions during CENOVUS ENERGY earnings calls.
Dennis Fong
CIBC World Markets
5 questions for CVE
Also covers: BTE, CNQ, IMO +2 more
GP
Greg Pardy
RBC Capital Markets
5 questions for CVE
Also covers: BTE, CNQ, GTE +4 more
MG
Manav Gupta
UBS Group
5 questions for CVE
Also covers: ADM, AMTX, BE +34 more
MH
Menno Hulshof
TD Cowen
5 questions for CVE
Also covers: BTE, CNQ, IMO +2 more
Neil Mehta
Goldman Sachs
5 questions for CVE
Also covers: AESI, APA, AR +36 more
Patrick O'Rourke
ATB Capital Markets
4 questions for CVE
Also covers: CNQ, IMO, SU +1 more
JR
John Royall
JPMorgan Chase & Co.
3 questions for CVE
Also covers: CASY, CNQ, CVI +13 more
CV
Chris Varcoe
Calgary Herald
2 questions for CVE
Emma Graney
The Globe and Mail
2 questions for CVE
Alex Bill
allNewfoundlandLabrador
1 question for CVE
HM
Harry Mateer
Barclays
1 question for CVE
Also covers: TRGP
RT
Robert Tuttle
Bloomberg News
1 question for CVE
Recent press releases and 8-K filings for CVE.
Cenovus Energy Inc. announces 2026 capital budget and corporate guidance
CVE
Guidance Update
New Projects/Investments
- Cenovus Energy Inc. announced its 2026 capital budget will range from $5.0 billion to $5.3 billion, which includes approximately $350 million for capitalized turnaround costs.
- The company projects upstream production for 2026 to be between 945,000 BOE/d and 985,000 BOE/d, representing an approximate 4% year-over-year growth rate.
- Downstream crude throughput is expected to be between 430,000 bbls/d and 450,000 bbls/d, achieving a crude utilization rate of 91% to 95%.
- General and administrative (G&A) costs, excluding stock-based compensation, are anticipated to remain flat relative to 2025, at $625 million to $675 million.
Dec 11, 2025, 2:31 PM
Cenovus Energy Announces 2026 Capital Budget and Corporate Guidance
CVE
Guidance Update
New Projects/Investments
M&A
- Cenovus Energy announced its 2026 capital budget will range from $5.0 billion to $5.3 billion, including approximately $350 million for capitalized turnaround costs.
- The company forecasts 2026 upstream production between 945,000 and 985,000 barrels of oil equivalent per day (BOE/d), representing an approximate 4% year-over-year growth adjusted for the MEG acquisition.
- Downstream crude throughput for 2026 is projected to be 430,000 to 450,000 barrels per day (bbls/d), with a crude utilization rate of 91% to 95%.
- General and administrative (G&A) costs, excluding stock-based compensation, are expected to remain flat at $625 million to $675 million in 2026.
- Cenovus has adjusted its shareholder returns framework, targeting 50% of excess free funds flow (EFFF) to shareholders when net debt is above $6.0 billion, increasing to 75% between $6.0 billion and $4.0 billion, and 100% upon reaching the $4.0 billion net debt target.
Dec 11, 2025, 11:00 AM
Cenovus Energy Announces Closing of Senior Notes Offering and Redemption of Existing Notes
CVE
Debt Issuance
- Cenovus Energy Inc. completed a $2.6 billion public offering of senior notes on November 20, 2025.
- The offering included four tranches of unsecured notes with maturities ranging from 2031 to 2036 and interest rates from 4.250% to 5.400%.
- Concurrently, Cenovus announced the redemption of three outstanding notes totaling $750 million, US$373 million, and US$600 million.
- These redemptions are scheduled for December 1, 2025, and December 22, 2025.
- The net proceeds from the offering will be used to refinance the notes being redeemed and for general corporate purposes.
Nov 21, 2025, 1:15 AM
Cenovus Energy Inc. Announces U.S.$1 Billion Debt Offering and Concurrent CAD Offering
CVE
Debt Issuance
- Cenovus Energy Inc. is issuing U.S.$500,000,000 of 4.650% Notes due 2031 and U.S.$500,000,000 of 5.400% Notes due 2036.
- The 2031 Notes have a public offering price of 99.800% and a yield to maturity of 4.694%, while the 2036 Notes have a public offering price of 99.828% and a yield to maturity of 5.423%.
- The settlement date for these notes is November 20, 2025.
- The net proceeds from this offering, combined with a concurrent CAD offering, will be used to fund the redemption of existing senior notes, including $750 million of 3.60% notes due 2027, U.S.$373 million of 4.25% notes due 2027, and MEG's U.S.$600 million of 5.875% notes due 2029, in addition to general corporate purposes.
- Concurrently, Cenovus is also offering $650,000,000 aggregate principal amount of senior unsecured notes due 2033 and $550,000,000 aggregate principal amount of senior unsecured notes due 2035 in a separate CAD offering.
Nov 19, 2025, 9:57 PM
Cenovus Energy announces senior notes offering
CVE
Debt Issuance
- Cenovus Energy Inc. announced the pricing of a $2.6 billion aggregate principal amount offering of senior unsecured notes.
- The offering consists of four tranches across Canadian dollar and U.S. dollar denominations, with coupon rates ranging from 4.25% to 5.40% and maturities between March 20, 2031, and November 20, 2035.
- Cenovus intends to use the net proceeds to fund the redemption of existing senior notes totaling $750 million (3.60% due 2027), US$373 million (4.25% due 2027), and MEG Energy Corp.'s US$600 million (5.875% due 2029), and for general corporate purposes.
- The offerings are expected to close on November 20, 2025.
Nov 19, 2025, 11:01 AM
Cenovus Energy Prices $2.6 Billion Senior Unsecured Notes Offering
CVE
Debt Issuance
- Cenovus Energy Inc. priced an offering of $2.6 billion in aggregate principal amount of senior unsecured notes on November 18, 2025.
- The offering consists of four tranches: $650 million Canadian Notes at 4.25% due March 20, 2033, $550 million Canadian Notes at 4.60% due November 20, 2035, US$500 million U.S. Notes at 4.65% due March 20, 2031, and US$500 million U.S. Notes at 5.40% due March 20, 2036.
- Cenovus intends to use the net proceeds to fund the redemption of its $750 million aggregate principal amount of 3.60% senior notes due 2027, its US$373 million aggregate principal amount of 4.25% senior notes due 2027, and MEG Energy Corp.'s US$600 million aggregate principal amount of 5.875% senior notes due 2029, in addition to general corporate purposes.
- The offerings are expected to close on November 20, 2025, subject to customary closing conditions.
Nov 19, 2025, 1:50 AM
Cenovus Energy Completes MEG Energy Acquisition
CVE
M&A
New Projects/Investments
Guidance Update
- Cenovus Energy Inc. (CVE) announced the completion of its acquisition of MEG Energy Corp. on November 13, 2025.
- The total consideration paid by Cenovus included $752 million in cash for 25.0 million MEG shares, $3.44 billion in cash to MEG shareholders, 143.9 million Cenovus common shares issued, and approximately $800 million of estimated net debt assumed.
- This acquisition is expected to immediately add approximately 110,000 barrels per day of low-cost, long-life oil sands production to Cenovus.
- Cenovus will provide updated guidance to reflect the MEG acquisition with its 2026 budget on December 11, 2025.
Nov 13, 2025, 3:47 PM
Cenovus Completes MEG Energy Acquisition
CVE
M&A
New Projects/Investments
Guidance Update
- Cenovus Energy Inc. completed its acquisition of MEG Energy Corp. on November 13, 2025, which strengthens its portfolio of long-life, low-cost oil sands assets.
- The total consideration for the acquisition included $752 million in cash for 25.0 million MEG shares, $3.44 billion in cash paid to MEG shareholders, the issuance of 143.9 million Cenovus common shares, and the assumption of approximately $800 million in estimated net debt.
- This acquisition immediately adds approximately 110,000 barrels per day of low-cost, long-life oil sands production to Cenovus.
- Cenovus will provide updated guidance reflecting the MEG acquisition with its 2026 budget on December 11, 2025.
Nov 13, 2025, 3:22 PM
Cenovus Energy announces renewal of share buyback program
CVE
Share Buyback
- Cenovus Energy Inc. announced the renewal of its normal course issuer bid (NCIB), approved by the Toronto Stock Exchange, allowing for the purchase of up to 120,250,990 common shares between November 11, 2025, and November 10, 2026.
- This authorized amount represents 10% of Cenovus's public float as of October 31, 2025.
- Under the prior NCIB, which expires on November 10, 2025, the company had repurchased 82,563,942 common shares at a weighted-average price of $21.58 per common share as of October 31, 2025.
- Cenovus has also entered into an automatic share purchase plan (ASPP) to enable share repurchases during regulatory restrictions and blackout periods.
Nov 7, 2025, 2:07 PM
Cenovus Energy announces renewal of share buyback program
CVE
Share Buyback
- Cenovus Energy Inc. announced the Toronto Stock Exchange (TSX) has approved the renewal of its normal course issuer bid (NCIB) to purchase up to 120,250,990 common shares.
- The new NCIB will commence on November 11, 2025, and conclude on November 10, 2026.
- This renewal represents 10% of Cenovus's public float as of October 31, 2025, with 1,745,535,223 common shares outstanding on that date.
- Under its prior NCIB, which expires on November 10, 2025, Cenovus had repurchased 82,563,942 common shares at a weighted-average price of $21.58 per common share as of October 31, 2025.
- Cenovus has also entered into an automatic share purchase plan (ASPP) to facilitate purchases during blackout periods.
Nov 7, 2025, 11:00 AM
Quarterly earnings call transcripts for CENOVUS ENERGY.
Ask Fintool AI Agent
Get instant answers from SEC filings, earnings calls & more