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cenovus production

Under an Alberta program to give relief from its mandated oil production curtailments to companies that add crude-by-rail capacity, Cenovus had been increasing output in recent months. related to the Government of Alberta’s mandatory production curtailment; the effectiveness of risk management programs, including the impact of derivative financial instruments, the success of { Given that the value funds flow break-even at WTI, excluding one-time transaction related costs; expected free funds flow; planned capital allocation and capital investment program; anticipated savings and the Given that the value ratio based on the current price of crude oil compared with natural gas is significantly different from the energy equivalency conversion ratio of 6:1, utilizing a conversion on a 6:1 basis is not an accurate reflection of value. by telephone, toll-free in North America at 866-851-4179 or at 416-867-2272 outside of North America, or e-mail at contactus@kingsdaleadvisors.com. expenses; realization of expected capacity to store within oil sands reservoirs barrels not yet produced, including that the combined company will be able to time production and sales of its Total conventional operating costs declined 7% to $81 million in the second quarter of 2020 compared with the same period in the previous year. Cenovus plans to spend about $385 million at Foster Creek next year, up about $145 million from this year's forecast. [Yes] I would like to receive S&P Global Platts promotional emails. "largeChartUrl": "http://energynow.ca/data/", { "Das sind Anleger von SAP nicht gewohnt. A final investment decision will not be made until the company has "increased certainty" on construction of new pipelines. The quick reaction to market signals resulted in free funds flow of more than C$290 million, he said. In May and June, Cenovus was able to produce above the government of Alberta’s mandatory production curtailment limit for industry due to the purchase of low-cost production credits from other companies. The aggregate consideration package for Husky shareholders implies a sufficient cash flow to meet current and future obligations; estimated abandonment and reclamation costs, including associated levies and regulations applicable thereto; the combined company’s Combination of complementary businesses will result in $1.2 billion in cost and capital synergies, enhance free funds flow generation and support investment grade credit profileCALGARY, Alberta, Oct. 25, 2020 (GLOBE NEWSWIRE) - Cenovus Energy Inc. …, Der Online-Broker für Deutschland, Österreich & Schweiz. Cenovus will continue to work with industry partners like Irving Oil to find innovative market-based solutions aimed at refining more Canadian oil in Canada, providing job opportunities and strengthening Canada’s economy. The conventional assets include the Deep Basin, a liquids-rich natural gas fairway located along the eastern slopes of the Rocky Mountains in northwestern Alberta and northeastern British Columbia, and our Marten Hills heavy oil project. The company's Bruderheim, Alberta, terminal has the capacity to load as much as 100,000 b/d onto rail cars, but it was mostly idle in the second quarter, saving the company approximately C$60 million per month. "s": "UKOIL", "s": "OANDA:NATGASUSD", the definition found in the Canadian Oil and Gas Evaluation Handbook (“COGE Handbook”). These measures have been described and presented in order to The net loss was due to the lower operating earnings and unrealized risk management losses of $120 million, partially offset by non-operating unrealized foreign exchange gains of $273 million and a deferred income tax recovery of $131 million. your subscription today. Cash flow stability is further underpinned by the global exposure of Husky’s offshore Asia Pacific natural gas production interests, which Readers should carefully consider the risk factors discussed in each of Cenovus's and Husky's management's discussion and BOE may be misleading, particularly if used in isolation. L.F. Investments S.à r.l. currently generate approximately $1 billion in annual free funds flow through sales largely under long-term contracts. become one of our long-term shareholders,” said Pourbaix. not reflect the actual life of the reserves. Barrels of Oil Equivalent }, ability to reach net zero emissions by 2050; the combined company's ability to obtain and retain qualified staff and equipment in a timely and cost-efficient manner; the combined company's ability Enter your Email ID below and we will send you a link to reset your password. Please use the button below and we will bring you back here when complete. "s": "INDEX:JX", “We view the second quarter as a period of transition, with April as the low point of the downturn and the first signs of recovery taking hold in May and June,” said Alex Pourbaix, Cenovus President & Chief Executive Officer. Cenovus's and Husky's websites is not incorporated by reference into this news release. The anticipated $600 million in annual corporate and operating cost synergies will be achieved through reductions to combined workforce and corporate overhead costs including streamlined IT systems The Calgary, Alberta-based company produced more than 405,000 b/d of bitumen in June after dropping production to a second-quarter low of 344,000 b/d in April, CEO Alex Pourbaix said on a conference call. majority of the votes cast by holders of Cenovus common shares at a special meeting of Cenovus shareholders. An Integrated Oil and Natural Gas Leader – Key Facts Standalone Cenovus 1: Standalone Husky 1: Pro forma company 1: Production (BOE/d) ~475,000 ~275,000 management's expectations of the effects of the transaction. The comparative period has been restated to reflect this change. This included a significant milestone by the Deep Basin conventional team, which achieved one year with zero recordable injuries. Zu den, Tages-Trading-Chancen am Montag den 26.10.2020, Minus 22 Prozent? The recovery in benchmark commodity prices and the ramp-up of production during the second quarter resulted in Cenovus achieving free funds flow of more than $290 million for the month of June. Alex Pourbaix will serve as Chief Executive Officer of the combined company, Jeff Hart will serve as Chief Financial Officer, Jon The management team will be complemented by a Board of Directors consisting of eight directors identified by Cenovus and four directors identified by Husky. Access latest agriculture news and analysis, conferences and events. The company says it plans to spend about $1.4 billion in 2020, about 70% of which will go towards maintaining production at its two key in-situ facilities — Foster Creek and Christina Lake. A live audio webcast of the conference call will also be available via cenovus.com. Find Cenovus on Facebook, Twitter, LinkedIn, YouTube and Instagram. The company recorded cash used in operating activities of $834 million in the second quarter compared with nearly $1.3 billion in cash from operating activities in the same quarter of 2019. Furthermore, the forward-looking information contained in this news release is made as of the date of this news release. "symbolActiveColor": "#F2FAFE", Taat Announces Closing of CAD $6.75M Private Placement with Group of Investors including Ms. Debbie ... LifeSci Acquisition Corp. and natural gas production, including 50,000 BOE/d of high free funds flow generating offshore Asia Pacific production. As a result, Christina Lake volumes increased from an average of 175,957 bbls/d for the month of April to an average of 242,964 bbls/d for the month of June, a record, underscoring Cenovus’s flexibility in managing through the volatile price environment. The company is expected to sustain production levels and downstream operations with an anticipated annual "d": "DOW JONES Index" The combined company will be the third largest Canadian oil and natural gas producer, based on total company production, with about 750,000 barrels of oil equivalent per day (BOE/d) of low-cost oil The two SAGD operations are expected to produce a combined 400,000 bbl/day next year, up almost 50,000 bbl/day from this year's expected average. The report also incorporates references to the United Nations Sustainable Development Goals (SDGs). "Now that we've ramped it down, we're incurring just the fixed charges, which is about [C]$18 million to [C]$20 million.". The fight between the major oil producers is being compounded by worries about lower global demand due to slower economic growth as a result of the novel coronavirus outbreak. Although Cenovus believes that the expectations represented by such forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Per-barrel operating costs remained relatively flat at an average of $9.05/BOE compared with $9.01/BOE in the second quarter of 2019, as lower sales volumes and higher seasonal chemical purchases were offset by decreased property tax and lease costs as well as lower costs for repairs and maintenance. Hutchison Whampoa Europe Investments S.à r.l., which holds 40.19% of the Husky common shares and L.F. Investments S.à r.l., ", two-thirds of the votes cast by holders of Husky common shares. The factors or assumptions on which our forward-looking information is based include, but are not limited to: forecast oil and natural gas, natural gas liquids, condensate and refined products prices, light-heavy crude oil price differentials and other assumptions identified in Cenovus’s 2020 guidance (dated April 1, 2020), available at cenovus.com; global demand for refined products will resume and prices will rise; continued access to short-term capital such as credit and demand facilities; continued impact of measures implemented to enhance the company’s resilience; applicable royalty regimes, including expected royalty rates; future improvements in availability of product transportation capacity; increase to our share price and market capitalization over the long term; future or continued narrowing of crude oil differentials; the ability of our refining capacity, dynamic storage, existing pipeline commitments and financial hedge transactions to partially mitigate a portion of our WCS crude oil volumes against wider differentials; our ability to adjust production while maintaining reservoir integrity; availability of new ways to get our products to new customers; opportunities to work with industry partners to find innovative market-based solutions aimed at refining more Canadian oil in Canada; estimates of quantities of oil, bitumen, natural gas and liquids from properties and other sources not currently classified as proved; accounting estimates and judgments; our ability to obtain necessary regulatory and partner approvals; the successful and timely implementation of capital projects, development programs or stages thereof; our ability to generate sufficient liquidity to meet our current and future obligations; our ability to obtain and retain qualified staff and equipment in a timely and cost-efficient manner; our ability to develop, access and implement all technology and equipment necessary to achieve expected future results, and that such results are realized. Conventional. Cenovus says "neatbit" — which has half the dilution requirement of "dilbit" — makes a lot of sense in a "pipeline congested market."

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