TSX:CVEOil and Gas
Cenovus Energy (TSX:CVE) Is Up 5.2% After C$3B Asset Sale Plan And Oil Sands Push - Has The Bull Case Changed?
Cenovus Energy recently moved to streamline its portfolio, exploring the sale of about C$3 billion of Alberta conventional oil and gas assets to reduce debt after acquiring MEG Energy, while reporting record oil sands production and solid refining throughput.
An interesting angle is Cenovus’s plan to concentrate capital on oil sands and use additional cash flow for both debt reduction and shareholder returns, reinforcing its integrated producer–refiner profile.
We will now examine how...