Cenovus Energy, Inc.

Cenovus Energy, Inc.

Cenovus Energy, Inc.

Overview
Date Founded

2009

Headquarters

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

Type of Company

Public

Employees (Worldwide)

2,882

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, 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 and natural gas in northeast Alberta including Foster Creek, Christina Lake and Narrows Lake as well as projects in the early stages of development, such as Grand Rapids and Telephone Lake. The Refining and Marketing segment provides transportation, sale and refine services of crude oil into petroleum and chemical products. 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 on November 30, 2009 and is headquartered in Calgary, Canada.

Website
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

Senior Vice President, Downstream

Senior Vice President, Corporate Services

Director, Commercial Optimization

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.

Former President & Chief Executive Officer at Richardson Partners Financial Ltd.

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

Chairman at Nuvista Energy Ltd.

Former Chief Executive & Managing Partner at Deloitte & Touche LLP

Former Chairman, President & Chief Executive Officer at Probex Corp.

Principal at iRefine LLC

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Owners & Shareholders
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Letko, Brosseau & Associates' (LBA) A 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)l; 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 is most interested in the characteristics of the businesses and industries in which they invest: their cost structures, growth, entry costs, market positions, etc. They are equally interested in what they pay for each investment. 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.

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Fidelity (Canada) Asset Management ULC'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. FIAM Canada 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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Pzena Investment Management is a global investment management firm that employs a classic value investment approach. The firm began managing assets on January 1, 1996. Our solid return record and reputation for business integrity, research excellence, and devotion to our investment philosophy has led to significant growth in our business. As of February 28, 2013, the firm managed $18.9 billion in assets for leading corporate, public, and individual clients. Our team is made up of 69 employees. Our headquarters is in New York City, with a representative office in Melbourne, Australia.

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

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

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Canadian Natural Resources Ltd. purchases Cenovus Energy, Inc. /Pelican Lake Ops from Cenovus Energy, Inc.

Transaction Advisors
Manager

Advised onCenovus Energy, Inc. issued Common Shares

Manager

Advised onCenovus Energy, Inc. issued Common Shares

Legal Advisor

Advised onCenovus Energy, Inc. issued Common Shares

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 2017
Market Capitalization
$16.8B
Total Enterprise Value
$21.5B
Earnings Per Share
$2.2
Revenue
$17B
Net Profit
$2.43B
EBITDA
$2.08B
EBITDAMargin
12.2%
Total Debt
$9.51B
Total Equity
$20B
Enterprise Value Sales
1.26x
Enterprise Value EBITDAOperating
10.34x
TEVNet Income
8.85x
Debt TEV
0.44x
Five Year Compounded Annual Growth Rate Of Revenue
0.24%
Three Year Compounded Annual Growth Rate Of Revenue
-4.62%
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: Conventional Pipelines, Oil Sands and Heavy Oil, Gas Services. and Midstream. The Conventional Pipelines segment consists of the tariff-based operations of pipelines and related facilities to deliver crude oil, condensate, and natural gas liquids. The Oil Sands and Heavy Oil segment includes the Syncrude, Horizon, Nipisi and Mitsue Pipelines, and the Cheecham Lateral; which pipelines and related facilities deliver synthetic crude oil produced from oil sands. The Gas Services segment comprises of natural gas gathering and processing facilities, including nine shallow and deep cut sweet gas processing plants and gathering systems. The Midstream segment handles extraction and fractionation facilities, terminalling, and storage hub services under a mixture of short, medium, and long-term contractual arrangements. The company was founded on September 29, 1954 and is headquartered in Calgary, Canada.

Competitors
Tourmaline Oil Corp. Oil & Gas - Calgary, AB

Tourmaline Oil Corp. is a Canadian intermediate crude oil and natural gas exploration and production company focused on long-term growth through an aggressive exploration, development, production and acquisition program in the Western Canadian Sedimentary Basin. Tourmaline commenced active operations in the fall of 2008 with the objective of building a successful Canadian intermediate crude oil and natural gas exploration, development and production company with a long-term business strategy similar to that of Duvernay Oil Corp. and Berkley Petroleum Corp., companies previously founded and managed by certain key members of Tourmaline’s senior management team. During the two-year period since commencing active operations, Tourmaline, through a series of strategic acquisitions, farm-ins and land acquisitions combined with its active capital exploration and development program, has assembled an extensive undeveloped land position with a large, multi-year drilling inventory and operating control of important natural gas processing and transportation infrastructure in two core long-term growth areas – the Alberta Deep Basin and the Greater Peace River High. Tourmaline is executing a large-scale, repeatable capital exploration and development program in these two core long-term growth areas. Tourmaline’s long-term business strategy is to increase shareholder value by building an extensive asset base over two to three core exploration and production areas and exploiting and developing these areas to increase reserves, production and cash flows at an attractive return on invested capital. The Company seeks to execute this strategy by: aggressively drilling and developing its extensive undeveloped land position; adopting and employing advanced drilling and completion techniques; enhancing returns by focusing on operational and cost efficiencies; pursuing strategic acquisitions with significant potential synergies; and wildcat exploration drilling for new pool discoveries. Management believes Tourmaline has a number of competitive advantages that management expects will help the Company successfully execute its long-term business strategy including: an extensive undeveloped land position in two long-term growth areas; a large, multi-year drilling inventory; an incentivized management team with demonstrated operating and acquisition skills; majority operating control of the Company’s core assets; a strong balance sheet; and a focus on operational efficiencies and cost containment.

Paramount Resources Oil & Gas - Calgary, AB

Paramount Resources Ltd. engages in the exploration, development, production, processing, transportation, and marketing of natural gas, crude oil, and natural gas liquids. It operates through the following segments: Principal Properties, Strategic Investments, and Corporate. The Principal Properties segment focuses on the development of liquids-rich resource plays targeting the Montney and Duvernay formations in the Alberta Deep Basin. The Strategic Investments segment includes the investments in other entities and investments in exploration and development stage assets. The Corporate segment is comprised of income and expense items, including general and administrative expense, share-based compensation expense and interest expense. The company was founded by Clayton H. Riddell on February 14, 1978 and is headquartered in Calgary, Canada.

EnCana Corp. Oil & Gas - Calgary, AB

Encana Corp. engages in the production of natural gas, oil, and natural gas liquids. It operates through the following segments: Canadian Operations, USA Operations and Market Optimization. The Canadian Operations segment includes the exploration for, development of, and production of natural gas, oil and natural gas liquids and other related activities within Canada. The USA Operations segment involves in the exploration, development, and production of natural gas, oil, and natural gas liquids and other related activities within the U.S. The Market Optimization segment is responsible for the sale of the company's proprietary production to third party customers and the associated netback price. Encana was founded on April 5, 2002 and is headquartered in Calgary, Canada.