Certain financial measures in this news release do not have a standardized meaning as prescribed by IFRS, such as adjusted EBITDA, adjusted free funds flow, free funds flow, net debt and netback, and therefore are considered non-GAAP measures. Get complete details on the Cenovus Husky transaction. For additional information about the reserves of Cenovus and Husky and other oil and gas information, see “Reserves Data and Other Oil and Gas Information” and "Statement of Reserves Data and Other Oil and Gas Information" in Cenovus's and Husky's annual information forms for the year ending December 31, 2019, respectively. At Cenovus, sustainability is essential to the way we do business. will respectively hold approximately 15.7% and 11.5% of the combined company. The targets Cenovus and Husky released earlier this year for their key ESG focus areas are the products of robust processes to ensure alignment with the companies’ business plans and strategies. The company will continue working to earn its position as a global energy supplier of choice by advancing clean technology and reducing emissions intensity. The Bruderheim Energy Terminal is part of our strategy to create additional transportation options for our products and is designed to help us capture global prices for our oil. This positioned the company to weather the sharp decline in … We want every barrel of Cenovus’s oil to reach its destination safely, no matter how it’s transported. In 2017, we were recognized for our commitment to safely transporting chemical products. Additional senior executives for the combined company will be selected from top talent at both companies and named by the close of the transaction. Cenovus announces closing of US$1 billion offering of senior notes. Including the warrants, the premium is 23%. All financial figures and information have been prepared in Canadian dollars (which includes references to "dollars" and "$"), except where another currency has been indicated, and in accordance with International Financial Reporting Standards ("IFRS" or "GAAP") as issued by the International Accounting Standards Board. It's so deep that we have to use specialized technology to drill and pump it to the surface. No mining. The information contained on Cenovus's and Husky's websites is not incorporated by reference into this news release. We have two producing projects in the oil sands – Foster Creek and Christina Lake – as well as several emerging projects for future development. This represents a 21% premium, excluding warrants, relative to Husky’s five-day volume-weighted average price per share as at October 23, 2020. An Integrated Oil and Natural Gas Leader – Key Facts Standalone Cenovus 1: Standalone Husky 1: Pro forma company 1: Production (BOE/d) ~475,000 ~275,000 We lease a fleet of coiled and insulated rail cars to safely transport our products to market. Read about why we exist, what we're committed to and what differentiates us from our peers. Statements relating to "reserves" and "resources" are deemed to be forward-looking information, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves and resources described exist in the quantities predicted or estimated, and can be profitably produced in the future. Net change in other assets and liabilities is composed of site restoration costs and pension funding. Net-debt is a non-GAAP measure defined as short-term borrowings, and the current and long-term portions of long-term debt, net of cash and cash equivalents and short-term investments. Foster Creek SAGD Oil (Google Maps). Cenovus Energy Inc. is a Canadian integrated oil and natural gas company. Cenovus releases 2019 environmental, social & governance report All other shareholders holding 5% or more of the combined company at closing of the transaction that do not have existing similar rights, will also be provided with customary registration and pre-emptive rights upon request.
It is committed to maximizing value by sustainably developing its assets in a safe, innovative and cost-efficient manner, integrating environmental, social and governance considerations into its business plans. The estimates of reserves of Husky were prepared effective December 31, 2019 by internal qualified reserves evaluators in accordance with the COGE Handbook, were audited and reviewed by Sproule Associates Limited, an independent qualified reserves auditor, and represent the company’s working interest share.
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