Cenovus Energy, Inc.

Cenovus Energy, Inc.

Cenovus Energy, Inc.

Overview
Date Founded

1881

Headquarters

500 Centre Street SE,Suite 2600,Calgary, AB T2G 1A6

Type of Company

Public

Employees (Worldwide)

2,264

Industries

Oil & Gas
Other Business & Consulting Services
Power & Utilities

Company Description

Cenovus Energy, Inc. engages in gas and oil provisions. Its activities include development, production, and marketing of crude oil, natural gas liquids (NGLS), and natural gas in Canada. It operates through four segments: Oil Sands, Deep Basin, Refining & Marketing, and Corporate & Eliminations. The Oil sands segment includes the development and production of bitumen in northeast Alberta including Foster Creek, Christina Lake and Narrows Lake as well as projects in the early stages of development. The Deep Basin segment includes includes land primarily in the Elmworth-Wapiti, Kaybob-Edson, and Clearwater operating areas. The Refining and Marketing segment provides transportation and selling of crude oil, antural gas and NGLS. The Corporate and Eliminations segment includes unrealized gains and losses recorded on derivative financial instruments, divestiture of assets, as well as other administrative, financing activities and research costs. The company was founded in 1881 and is headquartered in Calgary, Canada.

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In The News
Executives & Employees

President & Chief Executive Officer

Executive Vice President & Chief Financial Officer

Executive Vice President, Stakeholder Engagement, Safety, Legal & General Counsel

Executive Vice President & Chief Technology Officer

Vice President, Legal, Assistant General Counsel & Corporate Secretary

Executive Vice President, Upstream

Executive Vice President, Downstream

Senior Vice President, Corporate Services

Senior Vice President, Strategy & Corporate Development

Director, Power

Board of Directors

Chairman at Daniel Family Foundation, Inc.

President & Chief Executive Officer at Cenovus Energy, Inc.

Chief Executive Officer at Ark Land Company

Former President & Chief Executive Officer at Repsol Oil & Gas Canada, Inc.

Member-Governors Council at The Investment Funds Institute of Canada

Former Director, President & Chief Executive Officer at Canadian National Railways

Chairman at Nuvista Energy Ltd.

Senior Advisor at Center for Strategic & International Studies, Inc.

Chairman & President at EnviroValve, Inc.

Former Chief Executive & Managing Partner at Deloitte & Touche LLP

Paths to Cenovus Energy, Inc.
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Cenovus Energy, Inc.
Owners & Shareholders
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CP-IM uses a disciplined approach to select the appropriate projects which will provide the most attractive investment opportunities, with a continued focus on organic growth in volumes and margins through higher-margin oil, condensate and LNG projects and limited investment in North American natural gas. The firm continues to optimize their asset portfolio by focusing on assets which offer the highest returns and growth potential, while selling nonstrategic assets.

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FCAM's investment approach is based the belief that in-depth fundamental analysis of companies can identify securities that may outperform the market. The firm's global research resources include seasoned, sector-focused fundamental analysts covering industry sectors across Canadian, US and global markets, as well as quantitative and technical portfolio managers and analysts. FCAM offers a wide variety of investment solutions including: Canadian, US and International/Global equity strategies; Diversified, Active/Single Sector, and Custom (Liability-Driven and Tactical Bond) fixed-income strategies; and Multi-Asset Class Asset Allocation Products including Strategic Balanced, Tactical Asset Allocation and Balanced Trust Services.

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LBA provides investment management services using an approach based on fundamental analysis, broad diversification, an international perspective, careful stock selection and low turnover. Their style is conservative. LBA does not short securities, nor do they trade in options or derivatives. Types of mandates offered to US investors include: Global Balanced, Foreign (non-Canadian) Balanced, Canadian Balanced, Canadian Equities, Global Equity (Canadian and foreign equities), Canadian Equity Plus (with up to 40% foreign equity component), Foreign Equities (only non-Canadian equities), and Fixed Income. LBA's investment style is essentially the same for Canadian equities, US equities and other international equities. The firm doesn't use external managers. LBA employs an enterprise value approach and they must be able to justify the price they pay using standard financial principles. Longer investment horizons are stressed. LBA tends to avoid securities with a lot of valuation risk or those that are too dependent on extraordinary future growth or improvements in profitability. LBA's portfolios typically have lower P/E ratios, have higher current yields, trade at lower P/CF, and have higher EBITDA/TMV and REVENUES/TMV ratios.

Recent Transactions
Details Hidden

Nuvista Energy Ltd. purchases Cenovus Energy, Inc. /Pipestone Business from Cenovus Energy, Inc.

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International Petroleum Corp. - British Columbia purchases Cenovus Energy, Inc. /Suffield & Alderson Gas Assets from Cenovus Energy, Inc.

Details Hidden

Whitecap Resources, Inc. purchases Cenovus Energy, Inc. /Saskatchewan Oil Recovery Project from Cenovus Energy, Inc.

Transaction Advisors
Investment Advisor

Advised onOntario Teachers' Pension Plan Board, Natural Resource Group Canada Ltd. purchase Heritage Royalty LP from Cenovus Energy, Inc.

Underwriter

Advised onCenovus Energy, Inc. issued CAD Common Shares - Bought Deal

Legal Advisor

Advised onNuvista Energy Ltd. purchases Cenovus Energy, Inc. /Pipestone Business from Cenovus Energy, Inc.

Legal Advisor

Advised onCenovus Energy, Inc. issued Common Stock

Legal Advisor

Advised onCenovus Energy, Inc. issued Common Stock

Legal Advisor

Advised onCenovus Energy, Inc. issued Common Stock

Advisors & Consultants
Legal Advisor

Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Legal Advisor

Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Advisor

Former Executive Vice President, General Counsel & Corporate Secretary at Cenovus Energy, Inc.

Key Stats and Financials As of 2018
Market Capitalization
$13.5B
Total Enterprise Value
$20B
Earnings Per Share
$-2.35
Revenue
$20.8B
Net Profit
$-2.89B
EBITDA
$865M
EBITDAMargin
4.15%
Total Debt
$9.16B
Total Equity
$17.5B
Enterprise Value Sales
0.96x
Enterprise Value EBITDAOperating
23.14x
TEVNet Income
-6.93x
Debt TEV
0.46x
Three Year Compounded Annual Growth Rate Of Revenue
16.85%
Five Year Compounded Annual Growth Rate Of Revenue
2.24%
Non-Profit Donations & Grants
$1,000 - $4,999
2014
$100K +
2012
Investments
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General Fusion is developing nuclear fusion technology to generate cheap, safe and plentiful energy without greenhouse gas emissions, pollution, or radioactive waste. Nuclear fusion is a process in which hydrogen atoms are fused together to form helium. This reaction releases significant amounts of heat, which can be used to generate electricity using traditional steam turbines. The necessary isotopes of hydrogen can be extracted from seawater and derived from lithium, resulting in a ubiquitous sitsce of fuel and providing a nearly endless supply of clean energy.General Fusion's approach is based on "magnetized target fusion" concepts first developed about 30 years ago. This approach is a hybrid of traditional "magnetic fusion" and "inertial confinement fusion" methods, and involves first confining plasma in a magnetic field, and then compressing the confined plasma to thermonuclear conditions. General Fusion's patent-pending fusion technology involves the equipment needed to contain and compress the plasma, and the systems needed to manage the process. General Fusion is a Canadian venture capital-backed company led by a team of experienced physicists and technology development experts. They are working with government, institutional and industrial partners and consultants to develop a full-scale proof-of-concept fusion generator to demonstrate a net gain in energy within fits years something that traditional approaches have never achieved. Commercialization would take place before the end of the decade.

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Carbonfree Chemicals Holdings LLC develops a proprietary technologies that capture flue gases that would otherwise release carbon dioxide into the environment and transform into solid carbonate materials. It has three primary technologies include: SkyMine, SkyScraper, and SkyCycle a processes require less energy to remove harmful pollutants and safer ways to store carbon. The company was founded by Joe Jones in 2005 and is headquartered in Austin, TX.

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Saltworks Technologies, Inc. designs, manufactures and assembles systems for desalination, brine management and chemical recovery applications. It offers water desalination technology that uses solar energy to reduce the energy consumption when compared to conventional desalination systems. The company was founded by Benjamin Sparrow and Joshua Zoshi in 2008 and is headquartered in Vancouver, Canada.

Suppliers
Inter Pipeline Ltd. Oil & Gas | Calgary, AB

Created in 1997, Inter Pipeline Fund is a major petroleum transportation, storage and natural gas liquids extraction business based in Calgary, Alberta, Canada. Inter Pipeline is a publicly traded limited partnership that owns and operates a diversified combination of energy infrastructure assets in western Canada, the United Kingdom, Denmark, Germany and Ireland. This asset portfolio generates long-term and predictable cash flows, thereby providing unitholders with a growing and stable source of monthly cash distributions. Inter Pipeline operates approximately 6,300 kilometres of petroleum pipelines and 4.8 million barrels of storage in western Canada. These systems transport approximately 990,000 barrels per day of oil sands bitumen and conventional crude oil in 2012, representing approximately 15% of total western Canadian conventional volumes and roughly 40% of oil sands volumes. Inter Pipeline is one of North America's largest natural gas liquids extraction businesses with ownership in three major extraction facilities located in southern Alberta. These facilities have the capacity to process 6.2 bcf/d of natural gas, and capacity to produce approximately 200,000 b/d of natural gas liquids. Inter Pipeline's NGL business currently processes approximately 40% of the natural gas exported from the province of Alberta. Inter Pipeline is one of North America's largest natural gas liquids extraction businesses with ownership in three major extraction facilities located in southern Alberta. These facilities have the capacity to process 6.2 bcf/d of natural gas, and capacity to produce approximately 200,000 b/d of natural gas liquids. Inter Pipeline's NGL business currently processes approximately 40% of the natural gas exported from the province of Alberta. Inter Pipeline's bulk liquid storage business segment is the fourth largest independent tank storage business in Europe. The bulk liquid storage segment operates through two wholly owned entities. Simon Storage Limited holds Inter Pipeline's storage operations in the United Kingdom, Ireland and Germany. Inter Pipeline's other European entity, Inter Terminals, holds bulk liquid storage assets in Denmark. Simon Storage is a recognized leader in the bulk liquid storage sector. Simon handles, blends and stores over 250 different products primarily comprised of petroleum, petrochemical and alternative fuels. Simon owns and operates eight bulk liquid storage terminals located on the coasts of the United Kingdom, Germany and Ireland with a combined liquid storage capacity of approximately eight million barrels. Other complementary services include facilities management and engineering services to several of the world's largest integrated energy companies. Inter Terminals operates four large terminals that are strategically located along the Danish Straits, the third most active petroleum transit channel in the world. The four terminals have a combined storage capacity of approximately 11 million barrels in 49 tanks. A variety of petroleum products are handled at the four terminals.

Entrec Corp. Shipping & Delivery | SPRUCE GROVE , AB

ENTREC specializes in the transportation (over the road and on site), loading, off-loading, setting and rigging of overweight and oversized cargo within the oil and gas, construction, petro-chemical, mining and power generation industries. The keys to our success are the experience, professionalism and capabilities of our people. Or management team, support staff and operations personnel have the experience and skills to deliver cost-effective and safe transportation solutions that match the unique needs of our diverse customer base. ENTREC is a public company trading on the TSX Venture exchange under the symbol 'ENT'.

Pembina Pipeline Corp. Oil & Gas | Calgary, AB

Pembina Pipeline Corp. engages in the provision of transportation and midstream services. It operates through the following segments: liquids and natural gas pipelines, conventional pipeline assets, transmission pipeline assets, oil sands, and heavy oil assets. The liquids and natural gas pipelines segment is to provide safe, responsible, reliable and cost-effective transportation services for customers. The conventional pipeline assets segment comprise a strategically located network of pipelines and related infrastructure including various hubs and terminals. The transmission pipelines segment provides customers with access to premium markets primarily on a take-or-pay basis under extendible long-term contracts. The oil sands and heavy oil assets segment provide services predominantly under long-term, extendible contracts. The company was founded on September 29, 1954 and is headquartered in Calgary, Canada.

Competitors
ConocoPhillips Oil & Gas - Houston, TX

ConocoPhillips has a time-honored tradition of placing safety, health and environmental stewardship at the top of our operating priorities. This will not change as we move forward as an independent company. Our technical capability, asset quality and scale, and financial strength are unmatched among independent upstream companies and uniquely position us to compete anywhere in the world. While North America is our home and provides the majority of our production, we are active in almost 30 countries and in a wide range of geologic and geographic settings, including some of the world’s most challenging areas. From the frozen Arctic to the arid desert, we have a proven track record of responsibly and efficiently exploring for and producing oil and natural gas. Our production streams include light oil, heavy oil, oil sands, natural gas liquids, conventional natural gas, coalbed methane, shale gas and oil, and liquefied natural gas (LNG). By combining our legacy strengths with the focus and culture of an independent company, we believe we can unlock potential for all our stakeholders by helping to meet the world’s energy needs. Our highly skilled and dedicated workforce of over 16,000 employees embraces this opportunity. We look forward to sharing our exciting future with you and invite you to learn more about us

Pengrowth Energy Corp. Oil & Gas - Calgary, AB

Pengrowth Energy Corporation is a dividend-paying, intermediate Canadian producer of oil and natural gas, headquartered in Calgary, Alberta. Pengrowth’s assets include Swan Hills light oil, Cardium light oil and the Lindbergh thermal bitumen project. Exciting opportunities are unfolding at Pengrowth with some major operated plays that are driving value creation. Our focus on financial stability, our assets and our people has allowed for substantial progress as we shift from conventional to unconventional assets and build capacity in our organization. Pengrowth has been a dividend paying entity for 25 years and our strategic objective is to develop a portfolio of thermal oil assets whose low declines and long life reserves will continue to support a stable dividend payout

Husky Energy, Inc. Oil & Gas - Calgary, AB

Husky Energy is one of Canada's largest integrated energy companies. It is headquartered in Calgary, Alberta, and is publicly traded on the Toronto Stock Exchange under the symbols HSE and HSE.PR.A. The Company operates worldwide with Upstream, Midstream and Downstream business segments. A combination of technological innovation, prudent investment, sound project management and responsible resource development allows Husky to deliver strong returns to shareholders. The Company has a well-defined and growth-oriented business plan, a stable foundation and has set course to realize value from three mid- to long-term growth pillars

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