Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Bullboard - Stock Discussion Forum 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.... see more

TSX:CVE - Post Discussion

View:
Post by retiredcf on Aug 16, 2022 9:32am

TPH

09:27 AM EDT, 08/16/2022 (MT Newswires) -- Tudor, Pickering and Holt said Monday that the valuation read-through from Cenovus Energy Inc. (CVE.TO)'s purchase of the remaining 50% stake in the Toledo refinery from BP isn't a great one for the US independent refiners in its coverage.

At a 12.1 Nelson complexity level, TPH said the deal comes out to $310 per complexity-adj bbl, a hefty bargain compared to the average $1,149 per complexity-adj bbl for inland deals since 2016.

The deal value also represents a meaningful discount to the implied average of $547 per complexity-adj bbl for refiners under TPH's coverage. This figure includes both inland and coastal refiners, and is based on the implied market value for refining after stripping out the value from other business lines and net debt.

TPH said Cenovus' datapoint helps illustrate why US refining capacity growth projects are few and far between, and why every refiner in our coverage is pursing some sort of alternative fuel growth project funded by strong refining cash flows.

Comment by rad10 on Aug 16, 2022 1:46pm
Yep BP got fleeced.  Go woke, go broke....
Comment by Cabarete1 on Aug 16, 2022 1:56pm
I wonder if CVE would take a shot at the Whiting Refinery. It's massive, @ 400 K BBD - and they would need to expand production (or buy someone) to feed it.
Comment by Eigen337 on Aug 16, 2022 3:03pm
This post has been removed in accordance with Community Policy
The Market Update
{{currentVideo.title}} {{currentVideo.relativeTime}}
< Previous bulletin
Next bulletin >

At the Bell logo
A daily snapshot of everything
from market open to close.

{{currentVideo.companyName}}
{{currentVideo.intervieweeName}}{{currentVideo.intervieweeTitle}}
< Previous
Next >
Dealroom for high-potential pre-IPO opportunities