Cenovus Energy Inc T.CVE

Irving Oil Refinery

[Kherson]

Looks to me like a deal is already in place for CVE to purchase Irving's asset in Saint John N.B. If that is indeed the case, will we be seeing the resurgence of the Energy East Pipeline Project?
Kherson

[Cabarete1]

Right now it feels like the winds of change are buildling so high that it just might be an option.  PP would have to push it through as a projet in National Interst, and that would be tought getting Quebec on board.  

[ztransforms173]

- BUYING Canada's LARGEST refinery (320,000 bbls/d) would be a FANTASTIC MOVE for Cenovus Energy ASSUMING that the PRICE IS RIGHT - it would LEAD to VERTICAL INTEGRATION of the NEWLY DEVELOPED West White Rose Project { 80,000 bbls/d - NET 45,000 bbls/d to CVE} - on top of that, Cenovus Energy would have EASY & CHEAP ACCESS to the PREMIUM NORTHEAST FUELS MARKET part of the USA {the

[cashtango00]

CVE already has vertical integration with all the refineries that they can't run properly.  They already have refining capacity of almost 750 000 bbls with upstream production of 800 000.  You want them to be a net refiner of 300 000 bbls, especially given their terrible track record of refining? .  The market hates CVE's downstream, if they would another refiner of over 300

[ztransforms173]

- IRVINE OIL REFINERY is the CLOSEST CRUDE OIL REFINERY to the West White Rose Project now that the COME BY CHANCE refinery in NL is PRODUCING RENEWABLE DIESEL using VEGETABLE OILS as FEEDSTOCK - CVE is INCREASING BOP/COP by 150,000 bbls/d in the NEXT 4 years - there is PLENTY of crude oil available RELATIVELY CLOSE BY to SUPPLY the Irvine Oil Refinery (including the INCREASING COP from OFFSHORE

[cashtango00]

so your idea is to double down on the sector that CVE operates poorly and that the market hates.....all the while driving up the debt/issuing stock/or backing away from shareholder returns....another reversal of managements narrative........ya the market will really like that move.   It would kill the stock

[ztransforms173]

- ACQUIRING a HUGE ASSET like the Irvine Oil Refinery is a ONCE in a GENERATION OPPORTUNITY - US DOWNSTREAM LACK of RELIABILITY PROBLEMS are SHORT-TERM in NATURE and are being SOLVED with NEWLY-HIRED SKILLED MANAGERS and ROBUST CAPEX to REPAIR/REPLACE TROUBLESOME UNITS - CVE GENERATES HUGE FREE CASH FLOWS that 'could' EASILY FINANCE the Irvine OIl ACQUISITION EVEN IF they PAY ALL of of

[downwithdotcom1]

nope, not buying your logic nor should CVE buy the Irving refinery as they have enough refinery troubles already IN-HOUSE. dwdc

[cashtango00]

Well the refinery has been foir sale for several years and has yet to find a buyer and thats including much better downstream operators than CVE so that should tell you what the market thinks of the over 100 year old facility.   CVE has yet to show in the YEARS since acquiring Husky, that they are capable of turning around those facilities.  They continue to burn cash and have

[ztransforms173]

- OWNING & OPERATING refineries TAKE a LOT of the RISK OUT when crude oil prices CRASH in a DOWN MARKET which you are CONVIENENTLY IGNORING - CVE is LEARNING FAST & they OBSERVED one of the BEST in the business IN ACTION @ WRB Refining, Phillips66 z173

[cashtango00]

Perfect.  another ancient refinery that CVE would struggle with for years trying to turn around.  CVE has a horrendous track record with downstream assets, has burned untold billions while the market has lost interest in the name due to its inabilty to execute, now it can add to its problems......can't make this stuff up.  So much for the 100% FCF return to shareholders....very

[BBDB859]

How certain is your gut, or source on this Kherson? When do you think we'll be informed if that's the case?