CALGARY, Alberta, Feb. 26, 2026 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced it will exercise its right to redeem its 2.577% Series 1 Preferred Shares (the “Series 1 Preferred Shares”) and its 3.948% Series 2 Preferred Shares (the “Series 2 Preferred Shares”, collectively, the “Series 1 & 2 Preferred Shares”) on March 31, 2026 (the “Redemption”). All of the Series 1 & 2 Preferred Shares outstanding will be redeemed at the price of $25.00 per share, for an aggregate amount p ...

Group 1 - The article discusses the analysis of oil and gas companies, specifically Ovintiv and Paramount Resources, focusing on their balance sheets, competitive positions, and development prospects [1] - The author emphasizes the cyclical nature of the oil and gas industry, highlighting the importance of patience and experience in navigating this sector [2] - The investing group, Oil & Gas Value Research, seeks undervalued oil companies and out-of-favor midstream companies, providing a platform for investors to share ideas and discuss recent information [2] Group 2 - The author has a beneficial long position in the shares of PRMRF CVE, indicating a personal investment interest in the companies discussed [3] - The article does not provide specific investment recommendations, urging investors to conduct their own research and review company filings [4] - Seeking Alpha clarifies that past performance does not guarantee future results and that the views expressed may not reflect the opinions of the platform as a whole [5]

卡尔加里律师事务所Burnet，Duckworth and Palmer LLP副董事长格兰特·扎瓦尔斯基在接受加拿大广播 电台采访时表示，"当你不想投资钻井、无法获得预期回报时，并购是一种增长方式。在基本面改变之 前，我们可能会看到更多类似的情况。" 尽管整合可能会在今年持续，分析师预计交易势头会温和放缓，这在很大程度上是由于高质量目标的日 益稀缺。Sayer Energy Advisors的总裁汤姆·帕维奇告诉加拿大广播电台，"我不知道我们是否会看到我们 在2025年看到的价值，这些价值主要由一些价值数十亿美元的大交易主导，"。"我认为你仍然会看到相 当多的活动，只是规模较小"。 另外值得关注的是，加拿大能源行业的并购越来越注重改善环境、社会和治理（ESG）状况，最近涉及 目标公司的交易中，超过70%的ESG评分高于买家。与美国不同，ESG标准在加拿大能源行业仍然至关 重要，作为风险管理、投资吸引和社会运营许可的核心框架。 据能源新闻网站OilPrice.com报道，加拿大的石油和天然气行业目前正经历一场大规模的、持续数年的 整合浪潮。到2025年，已达成或正在进行的交易总额将超过378亿美元，这是自20 ...

Core Insights - Cenovus Energy Inc. reported fourth-quarter 2025 adjusted earnings per share of 36 cents, exceeding the Zacks Consensus Estimate of 28 cents, and a significant increase from 5 cents in the same quarter last year [1] - Total quarterly revenues were $7.8 billion, which fell short of the Zacks Consensus Estimate of $9.7 billion and decreased from $8.4 billion year-over-year [1] Operational Performance - The Oil Sands unit's operating margin was C$2.23 billion, down from C$2.34 billion a year ago, with daily oil sands production reaching 724.3 thousand barrels per day, a 15.6% increase year-over-year [3] - The Conventional unit's operating margin increased to C$159 million from C$88 million year-over-year, with daily conventional production at 26.2 thousand barrels compared to 24.5 thousand barrels a year ago [4] - The Offshore segment generated an operating margin of C$244 million, slightly up from C$242 million in the previous year, with daily offshore liquid production at 24 thousand barrels, higher than 19.5 thousand barrels a year ago [5] - Total upstream production for the quarter was 917.9 thousand barrels of oil equivalent per day, compared to 816 thousand barrels in the same quarter last year [5] Downstream Performance - The Canadian Refining unit's operating margin improved to C$68 million from C$47 million in the fourth quarter of 2024, processing 112.9 thousand barrels of crude oil per day [6] - The U.S. Refining unit reported an operating margin of C$81 million, a recovery from a negative operating margin of C$443 million in the prior-year quarter, with crude oil processed volumes totaling 352.6 thousand barrels per day [6] Expenses - Transportation and blending expenses rose to C$2.66 billion from C$2.61 billion in the fourth quarter of 2024 [7] - Expenses for purchased products decreased to C$4.1 billion from $6.3 billion in the prior-year quarter [7] Capital Investment & Balance Sheet - Cenovus made total capital investments of C$1.36 billion in the quarter, with cash and cash equivalents of C$2.7 billion and long-term debt of C$11 billion as of December 31, 2025 [9] Guidance - Cenovus provided guidance for 2026, projecting total upstream production between 945-985 thousand barrels of oil equivalent per day and U.S. downstream throughput of 430-450 thousand barrels per day, with anticipated capital expenditure ranging from $5 billion to $5.3 billion [10]

Key Takeaways CVE has soared 58.5% in a year, outperforming peers as shares approach a 52-week high.At US$50 WTI, Cenovus can fund capex and dividends; each $1 WTI move shifts the fund flow by C$220M.EIA sees WTI falling to $53.42 in 2026 and $49.34 in 2027, pressuring Cenovus' heavy oil margins.Cenovus Energy Inc. (CVE) is approaching its 52-week high of $23.24, closing the latest session at $23.13.The rally has been supported by a consistent operational performance, expanding production volumes and a meas ...

I analyze oil and gas companies like Cenovus Energy and related companies in my service, Oil & Gas Value Research, where I look for undervalued names in the oil and gas space. I break down everything you need to know about these companies -- the balance sheet, competitive position and development prospects. This article is an example of what I do. But for Oil & Gas Value Research members, they get it first and they get analysis on some companies that is not published on the free site. Interested? Sign up he ...

McKenzie said 2025 upstream production averaged 834,000 barrels of oil equivalent per day (BOE/d), the highest annual level in the company’s history and up 3% from 2024 excluding the impact of the MEG acquisition. Cenovus also reduced total upstream non-fuel operating costs by about 4% year over year. In the downstream, the company’s refineries averaged 95% combined utilization across Canadian and U.S. segments, including a 59-day turnaround at Toledo that was completed 11 days ahead of schedule. Cenovus re ...

Core Viewpoint - Cenovus Energy reported a revenue decline of 7% year-over-year for Q4 2025, with a significant EPS surprise of +30.91% compared to analyst expectations [1]. Financial Performance - Revenue for the quarter was $7.81 billion, which was 19.2% below the Zacks Consensus Estimate of $9.66 billion [1]. - EPS for the quarter was $0.36, up from $0.05 in the same quarter last year, exceeding the consensus estimate of $0.28 [1]. Production Metrics - Total upstream production was 917.9 million barrels of oil equivalent, slightly below the average estimate of 920.65 million barrels [4]. - Conventional natural gas production was 860.4 million cubic feet, also below the average estimate of 870.78 million cubic feet [4]. - Daily production of NGLs was 27.90 MBbls, under the average estimate of 29.91 MBbls [4]. - Bitumen production was 696.20 MBbls, slightly above the average estimate of 691.76 MBbls [4]. - Total oil sands production from Foster Creek was 220.1 million barrels, exceeding the average estimate of 217.75 million barrels [4]. - Christina Lake production was 308.9 million barrels, just below the average estimate of 310.79 million barrels [4]. - Sunrise production was 60.3 million barrels, in line with the average estimate of 60 million barrels [4]. - Lloydminster Therma production was 106.9 million barrels, above the average estimate of 103.23 million barrels [4]. - Conventional heavy oil production from Lloydminster was 28.1 million barrels, slightly above the average estimate of 26.97 million barrels [4]. - Total oil sands production was 724.3 million barrels, compared to the average estimate of 718.73 million barrels [4]. - Heavy crude oil unit throughput in Canadian refining was 112.9 million barrels, exceeding the average estimate of 106.38 million barrels [4]. - U.S. refining crude oil unit throughput was 352.6 million barrels, above the average estimate of 339.36 million barrels [4]. Stock Performance - Cenovus shares returned +20.3% over the past month, contrasting with a -0.8% change in the Zacks S&P 500 composite [3]. - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance relative to the broader market [3].

The S&P/TSX composite index was up 205.25 points at 33,594.98.The April crude oil contract was up US$1.35 at US$66.40 per barrel.“Energy is the big sector today, that’s why the Canadian market is doing as well as it is,” said Pierre-Benoît Gauthier, vice-president of investment strategy at IG Wealth Management.U.S. President Donald Trump has been ratcheting up pressure on Iran, which is home to some of the world’s largest oil reserves, because of its disputed nuclear program. If a conflict were to break out ...

Core Viewpoint - Cenovus Energy reported a significant increase in fourth-quarter net earnings, driven by record upstream production and the completion of the MEG Energy acquisition [1][3]. Group 1: Financial Performance - Cenovus Energy's net earnings for Q4 reached US$683 million (C$934 million), a substantial rise from US$107 million (C$146 million) in the same quarter of 2024 [1]. - The fourth-quarter operating results included record upstream production of 917,900 barrels of oil equivalent per day (boe/d) and downstream crude throughput of 465,500 barrels per day (bpd), achieving an overall utilization rate of 98% [2]. Group 2: Production and Acquisition Impact - The record upstream production for Q4 does not account for the production associated with the MEG Energy acquisition, which was completed at the end of 2025 after a lengthy bidding process [3]. - The acquisition of MEG Energy has allowed Cenovus to make significant progress in integration and synergy capture, with expectations of achieving US$110 million (C$150 million) in annual synergies in 2026 and 2027, increasing to over US$292 million (C$400 million) annually from 2028 onwards [4]. Group 3: Future Production Guidance - Cenovus anticipates a 4% increase in upstream production in 2026 compared to 2025, with projections of production levels between 945,000 boe/d and 985,000 boe/d, adjusted for the MEG Energy acquisition [5]. - The Canadian energy sector, including Cenovus, has benefited from increased production capacity due to the expanded Trans Mountain route, which has facilitated higher oil exports to Asia [6][7].