Cenovus Energy Inc T.CVE

Alternate Symbol(s): CVE | CVE.WS | T.CVE.WT | T.CVE.PR.A | CNVEF | T.CVE.PR.B | T.CVE.PR.C | T.CVE.PR.E | T.CVE.PR.G

Cenovus Energy Inc. is a Canada-based integrated energy company. The Company has oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The Company's segments include Upstream, Downstream, and Corporate and Eliminations. Its Upstream segment includes Oil Sands, Conventional, and Offshore. Its Downstream segment consists of Canadian Manufacturing, and United States Manufacturing. The Company's upstream operations include oil sands projects in northern Alberta, thermal and conventional crude oil, natural gas and natural gas liquids (NGLs) projects across Western Canada, crude oil production offshore Newfoundland and Labrador and natural gas and NGLs production offshore China and Indonesia. The Company's downstream operations include upgrading and refining operations in Canada and the United States, and commercial fuel operations across Canada.

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Cenovus Energy Inc

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Post by retiredcfon Jun 06, 2023 9:03am

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Post# 35482069

RBC

June 5, 2023

Cenovus Energy Inc.
Provides Additional Update on Production Impact of Alberta Wildfires

TSX: CVE | CAD 22.87 | Outperform | Price Target CAD 28.00

Sentiment: Neutral

Cenovus announced today that it has safely restarted around 62,000 boe/d of the 85,000 boe/d that was previously announced to be shut-in as of May 4.

Key Points

• Cenovus anticipates that if the current wildfire conditions were to continue, their Rainbow Lake operations (around 20,000 boe/ d) would be expected to return to production within 7-10 days.

The remaining 3,000 boe/d of production will remain offline, awaiting power infrastructure to be rebuilt in various remote locations.
Cenovus will continue to monitor the wildfire situation; however, at the current juncture, no significant damage has been identified including no impact to the company’s oil sands or Lloydminster operations.