Cenovus to Double Production and Reserves in Canada
Cenovus Energy Inc (CVE)
Last cenovus energy inc earnings: 4/29 06:00 am
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Source: Marketwire
CALGARY, ALBERTA -- (Marketwired) -- 03/29/17 -- Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) has agreed to acquire ConocoPhillips' 50% interest in the FCCL Partnership, the companies' jointly owned oil sands venture operated by Cenovus. Cenovus is also purchasing the majority of ConocoPhillips' Deep Basin conventional assets in Alberta and British Columbia. Combined, these assets have forecast 2017 production of approximately 298,000 barrels of oil equivalent per day (BOE/d). The acquisition is immediately accretive to key metrics, and, assuming the successful completion of a planned divestiture program, is expected to result in an 18% increase in 2018 adjusted funds flow per share compared with Cenovus's original 2018 forecast. Total consideration for the purchase is $17.7 billion, including $14.1 billion in cash and 208 million Cenovus common shares. The cash component is fully financed with a portion of cash on hand, existing credit facility capacity and committed bridge loans
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CVE
Earnings
- 2/15/24 - Beat
CVE
Sec Filings
- 3/27/24 - Form 6-K
- 3/27/24 - Form 6-K
- 3/27/24 - Form 6-K
- CVE's page on the SEC website