Cenovus Energy Inc T.CVE

The merger sure looks good for CVE now

[Fraser19]

I have liked CVE for many years and owned it for many years as well, I have also found HSE interesting for years but never bought any shares in it.

If oil prices can hold these levels for the year they can make some very good debt reduction. Also there will be some assets CVE can trim, and with oil prices up they can probably sell them for a fair price. 

Another interesting thing, I think CVE said they didn't want to look at West White Rose unless there was a path to 60 dollar WTI, clearly that path has been found. I am just unsure if they would want to build it or sell it.

[oilandgasmick]

I don't think Westrose figures in their plans but the good news is that at 60 bucks/bbl there will be renewed interest in acquisitions so debt reduction seems a bit more likely when your suitors have cash in hand.

[mrbb]

i didn't like WWR when HSE want to develop it.  Offshore oil is a whole new ball game. One bad mistake can cripple HSE, same goes for cve.   Best is to sell WWR in this oil uptrend.  

[oilandgasmick]

Yes, I think WWR was always too pricey and environmentally risky for HSE even when crude was above $60 bucks. Hopefully Alex sees this mistake and won't fall into the same trap. My guess is that CVE is fishing to see what they can get for Liwan because it was arguably the best asset that HSE had and Chinese demand for natural gas has nowhere to go but up. I am guessing that the Chinese would

[mrbb]

yes, prices for liwan gas is the best contract price i have seen. I'm sure china want to get out of that contract. My info mostly related to heavy oil and reserves accounting, not offshore china, so i have no info on the value of their SE Asia assets.  If cve want to exit liwan, it would be good to exit Wenchang oil field, and Madura Gas field in indonesia too.  Not sure if your 3B

[oilandgasmick]

Yes they could never figure out what many observers already knew. Their pockets just weren't deep enough for all the projects they had on the go. Like I said before I don't think CVE wants any part of expensive projects outside of their core asset base and with little help coming from the Feds I don't see how WWR has much of a future.

[firstworld]

LKS has far better places to invest than Canada as does all foreign cash. Chinese are finished with Canada and prefer to do business in Africa back waters as do most global players. LKS did a masterful deal to effectively exit banana Canada LOL.

[oilandgasmick]

Hey nutcase: I know you aren't the brightest bulb in the chandelier but LKS is a serious stakeholder in CVE which is a Canadian company so he hasn't exited Canada at all. He's probably much more interested in Canada than he is the corrupt and backward CCP. Do us all a favor and blast off.

[Dogsbreakfast4U]

LKS is still in CVE and in Canada. He just put a few millions on another stock that I own Well Health Technologies.

[Eigen337]

This post has been removed in accordance with Community Policy

[oilandgasmick]

The $3B figure did not come from me but if you are right and you can get $5B for Liwan then you hit the debt reduction target with one stroke-- and since Alex has said that $8B in debt is the target level then this would be very sweet. You can't trust the CCP at all so if you can dramatically reduce your debt and ditch these guys all at once by selling Liwan then I say let's do it.

[RagingBull3]

"You can't trust the CCP at all..."     LOL, Liwan is the Golden Goose, virtualy only Bright spot at the moment.  Nice Dependable Income.       TRUST????   How about NEGATIVE oil prices here !!! LOL....   And then as soon as Keystone is canceled, all of a sudden there's AMPLE pipeline capacity now and into the future to

[mrbb]

Just more proof you're a red commie china supporter. Husky had to threaten to sue CNOOC for trying to back out the Liwan gas deal. husky threaten to sue CNOOC Husky eventually settled with CNOOC after agreeing to a middle ground but husky had to make concession to reduce contract gas price husky settles with CNOOC after some concession China broke and/or cheat on every international

[oilandgasmick]

Thanks MRBB: The CCP is the worst bunch of cheats/swindlers and rip off artists the planet has ever known. I appreciate the fact that a person of Asian descent is saying this because when a white guy like myself says it then you are automatically labelled a "racist". You are right in saying that the CCP's oil company tried to back out of the agreement once already and what is to

[RagingBull3]

Agreements.... How about the Agreement with the Preferreds !!!!!! $25/per share !!!!!! All just my opinion/view/thinking      Broken Agreements.  

[mrbb]

you can always sue LKS, husky and even CVE for damages. Again your view of broken agreement cost 25$ preferred is just your opinion CNOOC reneged on the liwan gas contract with husky IS A FACT. Sure 9.54-11.45 USD/mcf is great prices but liwan is not cheap offshore gas project. The original gas contract was signed before husky liwan spent the capital to develop liwan.  No way husky

[RagingBull3]

Preferred didn't even get an offer to redeem their shares, no negotiation, that I'm aware of.... just strong armed into Cenvous.    All just my opinion/view/thinking.   

[Quintessential1]

Strong armed?   You mean you didn't get to vote?

[RagingBull3]

If Preferred voted Yes, they became a part of Cenovus.  If Preferred voted NO, they STILL became part of Cenovus as a "wholly owned subsidary".... LOL...  a subsidary "company" that only has Preferreds shares that DON'T VOTE on company matters......  LOL.... Cenovus Calling the shots.    So YES, strong armed.    Besides, Preferreds had

[Quintessential1]

Really?  I'm commons and I'm good.  Husky was running itself into the ground.  I welcomed my new overlords with open arms.  ;-)  

[woodwise]

CVE will do much better than husky was ever going to. There is a reason it took the route it did.

[mrbb]

when china is caught red handed, china will tell you it as an accident, with a straight face too. it was an accident. Advice, keep your belt tighten, even if her name is fang fang.   

[RagingBull3]

"Calgary-based Husky announced after markets closed Tuesday that it had agreed with CNOOC to accept a price of between $12.50 (US$9.54) and $15 (US$11.45) per thousand cubic feet of natural gas from its giant Liwan project." NO COMPARISION.......   the corruption here with prices going NEGATIVE...   LOL... $12.50 - $15 !!!    HOLY F#ck....   You&