Cenovus Energy Inc. (CVE) Bundle
A Brief History of Cenovus Energy Inc. (CVE)
Company Overview
Cenovus Energy Inc. (CVE) is a Canadian integrated oil and natural gas company headquartered in Calgary, Alberta.
| Financial Metric | 2023 Value |
|---|---|
| Market Capitalization | $33.2 billion |
| Annual Revenue | $21.3 billion |
| Net Income | $3.6 billion |
| Total Assets | $47.8 billion |
Key Operations
- Primary oil sands assets in Alberta
- Conventional oil and gas operations
- Refining and marketing operations
Production Statistics
| Production Metric | 2023 Volume |
|---|---|
| Crude Oil Production | 755,000 barrels per day |
| Natural Gas Production | 440 million cubic feet per day |
Corporate Structure
Publicly traded on Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE).
Environmental Performance
- Greenhouse gas emissions reduction target: 35% by 2035
- Carbon intensity reduction goals
Financial Performance
| Financial Indicator | 2023 Value |
|---|---|
| Free Cash Flow | $4.2 billion |
| Debt-to-Capitalization Ratio | 29.4% |
| Return on Capital Employed | 15.7% |
A Who Owns Cenovus Energy Inc. (CVE)
Major Institutional Shareholders
| Shareholder | Percentage of Ownership |
|---|---|
| Vanguard Group Inc. | 9.23% |
| BlackRock Inc. | 8.47% |
| Capital Group Companies | 6.85% |
| Dodge & Cox | 5.62% |
| Letko, Brosseau & Associates Inc. | 4.91% |
Top Institutional Investors
- Vanguard Total Stock Market Index Fund
- BlackRock Indexed Equity Fund
- Capital World Investors
- RBC Global Asset Management
- TD Asset Management
Ownership Structure
Public Float: 100% publicly traded on Toronto Stock Exchange (TSX) and New York Stock Exchange (NYSE)
Market Capitalization: $33.2 billion (as of January 2024)
Significant Ownership Details
| Category | Percentage |
|---|---|
| Institutional Investors | 68.3% |
| Retail Investors | 31.7% |
Top Individual Shareholders
- Corporate Directors: 0.42%
- Executive Officers: 0.25%
- Independent Shareholders: 99.33%
Cenovus Energy Inc. (CVE) Mission Statement
Company Overview
Cenovus Energy Inc. is a Canadian integrated energy company headquartered in Calgary, Alberta. As of 2024, the company operates primarily in oil sands and conventional oil production.
Financial Performance Metrics
| Annual Revenue (2023) | $26.4 billion |
| Net Income (2023) | $3.2 billion |
| Market Capitalization | $33.6 billion |
| Total Assets | $47.8 billion |
Strategic Objectives
- Sustainable oil production of 755,000 barrels per day
- Reduce greenhouse gas emissions intensity by 30% by 2030
- Maintain low-cost production operations
Production Capabilities
| Total Production Volume | 755,000 barrels per day |
| Oil Sands Production | 461,000 barrels per day |
| Conventional Production | 294,000 barrels per day |
Environmental Commitments
- Target carbon emissions reduction of 30% by 2030
- Investment of $500 million in clean technology
- Water recycling rate of 90% in oil sands operations
Corporate Governance
Board of Directors: 11 independent directors
Executive Leadership: Alex Pourbaix (President & CEO)
How Cenovus Energy Inc. (CVE) Works
Corporate Overview
Cenovus Energy Inc. is headquartered in Calgary, Alberta, Canada. As of 2024, the company operates with a market capitalization of approximately $33.7 billion.
Business Segments
Cenovus Energy operates through three primary business segments:
- Oil Sands
- Conventional
- Offshore
Production Statistics
| Segment | Daily Production | Annual Production |
|---|---|---|
| Oil Sands | 272,000 barrels per day | 99,280,000 barrels annually |
| Conventional | 88,000 barrels per day | 32,120,000 barrels annually |
| Offshore | 45,000 barrels per day | 16,425,000 barrels annually |
Financial Performance
2023 financial highlights include:
- Total revenue: $24.6 billion
- Net income: $3.2 billion
- Operating cash flow: $6.8 billion
Asset Portfolio
| Asset Type | Location | Reserves |
|---|---|---|
| Foster Creek | Alberta, Canada | 1.2 billion barrels |
| Christina Lake | Alberta, Canada | 1.5 billion barrels |
| Conventional Assets | Western Canada | 350 million barrels |
Operational Metrics
2024 operational key performance indicators:
- Total proved reserves: 2.1 billion barrels
- Carbon emissions reduction target: 30% by 2030
- Total employees: 4,800
How Cenovus Energy Inc. (CVE) Makes Money
Revenue Streams
Cenovus Energy Inc. generates revenue primarily through:
- Crude oil production and sales
- Natural gas production and sales
- Bitumen extraction and marketing
Financial Performance in 2023
| Financial Metric | Amount (CAD) |
|---|---|
| Total Revenue | $26.4 billion |
| Net Income | $3.8 billion |
| Operating Cash Flow | $6.2 billion |
Production Volumes
| Production Type | Daily Volume |
|---|---|
| Crude Oil | 540,000 barrels per day |
| Natural Gas | 400 million cubic feet per day |
Asset Portfolio
Key Operational Assets:
- Foster Creek Christina Lake oil sands project
- Sunrise oil sands project
- Various conventional oil and gas properties in Alberta
Cost Structure
| Cost Category | Annual Expense |
|---|---|
| Operating Expenses | $8.1 billion |
| Capital Expenditures | $2.6 billion |
| Exploration Costs | $450 million |
Market Segments
Primary Market Segments:
- Canadian domestic market
- United States export market
- International oil trading
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