Cenovus Energy

Economic ‘train wreck’ delivers billions in asset impairments to oil producers

Apr 29, 2020 | 4:29pm

Fears that crude oil prices slammed by a global economic “train wreck” will remain low for some time are forcing Calgary-based companies to write off billions of dollars in value from their oil and gas resources. Husky Energy Inc. announced a $1.7-billion first quarter loss on Wednesday, including impairments of $1.1 billion after tax due […]

Cenovus spending cut expected to set trend as sector adjusts for oil prices

Mar 10, 2020 | 3:55pm

Analysts expect to see lower Canadian oil production this year as producers follow the example of Cenovus Energy Inc. in slashing capital spending budgets amid tumbling oil prices. After seeing its shares losing more than half their value on Monday, Calgary-based Cenovus announced Tuesday it would cut its capital spending plan for 2020 by 32 […]

Cenovus says capital spending to edge higher in 2020, production to rise

Dec 10, 2019 | 11:39am

Cenovus Energy Inc. plans to increase its capital spending in 2020 compared with this year. The energy company says it plans to invest between $1.3 billion and $1.5 billion in 2020, up from between $1.1 billion and $1.2 billion in 2019. Cenovus says the increase is largely due to a deferral of spending this year […]