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Last C$23.34 CAD
Change Today -0.10 / -0.43%
Volume 4.0M
CVE On Other Exchanges
Symbol
Exchange
Frankfurt
As of 4:00 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

cenovus energy inc (CVE) Snapshot

Open
C$23.33
Previous Close
C$23.44
Day High
C$23.56
Day Low
C$23.09
52 Week High
07/2/14 - C$34.80
52 Week Low
12/16/14 - C$18.72
Market Cap
19.2B
Average Volume 10 Days
4.0M
EPS TTM
C$0.73
Shares Outstanding
824.5M
EX-Date
03/11/15
P/E TM
32.2x
Dividend
C$1.06
Dividend Yield
4.56%
Current Stock Chart for CENOVUS ENERGY INC (CVE)

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cenovus energy inc (CVE) Details

Cenovus Energy Inc., an integrated oil company, develops, produces, and markets crude oil, natural gas liquids (NGLs), and natural gas in Canada with refining operations in the United States. The company’s Oil Sands segment engages in the development and production of bitumen assets at Foster Creek, Christina Lake, Narrows Lake, and the Athabasca natural gas assets, as well as projects in the early stages of development, such as Grand Rapids and Telephone Lake. Its Conventional segment develops and produces conventional crude oil, NGLs, and natural gas in Alberta and Saskatchewan, including the heavy oil assets at Pelican Lake. This segment also includes the carbon dioxide enhanced oil recovery project at Weyburn. The company’s Refining and Marketing segment transports, sells, and refines crude oil into petroleum and chemical products. Cenovus Energy Inc. is headquartered in Calgary, Canada.

3,545 Employees
Last Reported Date: 03/27/15

cenovus energy inc (CVE) Top Compensated Officers

Chief Executive Officer, President and Non-In...
Total Annual Compensation: C$1.4M
Chief Financial Officer and Executive Vice-Pr...
Total Annual Compensation: C$590.0K
Chief Operating Officer and Executive Vice-Pr...
Total Annual Compensation: C$760.0K
Executive Vice-President of Oil Sands
Total Annual Compensation: C$650.0K
Executive Vice-President of Markets, Products...
Total Annual Compensation: C$350.0K
Compensation as of Fiscal Year 2014.

cenovus energy inc (CVE) Key Developments

Cenovus Energy Mulls Sale Of Royalty Lands

Cenovus Energy Inc. (TSX:CVE) is seeking sale of its royalty lands in Western Canada. Cenovus Energy Inc. has hired bankers to explore the possible sale or initial public offering of its royalty lands in Western Canada. “Cenovus Energy has retained The Toronto-Dominion Bank (TSX:TD) to advise on the process,” Brett Harris, a spokesman for Cenovus Energy, said in an interview. Brett Harris declined to comment on timing. “We’ve been looking at a number of options for those fee lands, including a potential IPO and a potential sale,” Brett Harris said.

Cenovus Energy Inc. Seeks Regulatory Approval for Changes to Well Configurations at its Christina Lake SAGD Thermal Oilsands Project Near Conklin, Alberta

Cenovus Energy Inc. is seeking regulatory approval for changes to well configurations at its Christina Lake SAGD thermal oilsands project near Conklin, Alta., in an attempt to enable steam to access the reservoir more efficiently. The company wants Alberta Energy Regulator approval for the option to alter the well trajectory for four SAGD injector or producer well pairs. It is not requesting any change in the approved maximum operating pressure. Three different well configurations are contemplated in the company's Multi-Directional Wells (SAGD Enhanced Lengths) project. Those include drilling an additional leg from one steam injection well (Injectors Fork), curving the injector well toward an adjacent producer well (Curved Injector), and converging a producer well toward an adjacent well pair (Converged Producer). The different options offer an opportunity to supply steam from a single injector to multiple producers and consequently improve the drainage length per given injection well, according to the company. This would improve the injector-to-producer ratio per pad thereby improving the SAGD capital efficiency and overall project economics, it says. Also, the enhanced steam flow pattern combined with NGC (non-condensable gas) from a SAGD chamber may result in more uniform steam chamber development and possibly additional bitumen recovery. In its application, Cenovus notes that a common observation during operation of SAGD well pairs is the slow lateral growth of the steam chamber, especially in the early stages of operation. The combination of various factors, including wellbore hydraulics, localized heterogeneity and accumulation of non-condensable gases often results in the development of an uneven steam chamber along the length of a well pair, says the company. The multi-directional technology, which it is believed could improve SAGD performance, integrates the advantages of gravity drainage, steam flooding and enhanced NCG production mechanisms, says Cenovus. The company anticipates that this technology may allow steam to access a greater lateral area of the reservoir at an earlier stage. Another aspect of current SAGD well pair operations is the steam utilization capacity per injector well, says Cenovus. Current utilization of steam capacity is about 75% to 100% during high pressure gas lift and 40% to 60% during low pressure electric submersible pump (ESP) operating modes, it says. A well pair is generally operated at high pressure during only a fraction of its lifetime, the company points out. The majority of well pair operations fall within the intermediate to low pressure ESP operating range in which steam utilization per well is significantly lower than its maximum capacity and this may affect the capital efficiency of a SAGD project. The proposed project will not adversely affect resource recovery, says Cenovus. It will either accelerate production or reduce the injector-to-producer ratio per pad thereby improving the SAGD capital efficiency and overall project economics. The company says that by completing and operating the proposed project it would be in a better position to evaluate the performance of the multi-directional well configurations and the feasibility of using multi-directional wells with and without a mechanical connection. However, it also wants to be able to revert to conventional SAGD drilling configurations, if required.

Cenovus Energy Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Cenovus Energy Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenues of €4,238 million compared to €4,747 million a year ago. Operating cash flow of €539 million or €0.53 per diluted share compared to €976 million or €1.10 per diluted share a year ago. Cash from operating activities of €868 million compared to €976 million a year ago. Net loss of €472 million or €0.62 per diluted share compared to net loss of €58 million or €0.08 per diluted share a year ago. For the full year, the company reported total revenues of €19,642 million compared to €18,657 million a year ago. Operating cash flow of €4,158 million or €4.59 per diluted share compared to €4,468 million or €4.76 per diluted share a year ago. Cash from operating activities of €3,526 million compared to €3,539 million a year ago. Net loss of €744 million or €0.98 per diluted share compared to net loss of €662 million or €0.87 per diluted share a year ago. Earnings before income tax of €1,195 million compared to €1,094 million a year ago. Capital expenditures for property, plant and equipment of €2,779 million compared to €2,938 million a year ago.

 

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Industry Analysis

CVE

Industry Average

Valuation CVE Industry Range
Price/Earnings 22.7x
Price/Sales 0.9x
Price/Book 1.7x
Price/Cash Flow 6.6x
TEV/Sales 0.6x
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