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Stock Market & Financial Investment News

News For CNQ;CVE;IMO;SU;NXY;CEO From The Last 14 Days
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February 11, 2016
06:28 EDTCVECenovus Energy cutting dividend by 69% to C$0.05 per share
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06:27 EDTCVECenovus Energy to reduce workforce in FY16
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06:26 EDTCVECenovus Energy to defer scheduled turnaround at Foster Creek until 2017
Cenovus has identified further opportunities to reduce operating and G&A expenses by prioritizing repairs and maintenance and cancelling or deferring non-essential work, including the deferral of a scheduled turnaround at Foster Creek until 2017. The company plans to continue optimizing its processes to help realize greater efficiencies and is working with its suppliers and service providers to find additional opportunities to reduce costs and increase productivity.
06:26 EDTCVECenovus Energy to reduce capital spending by C$200M-C$300M
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06:26 EDTCVECenovus Energy cuts FY16 CapEx view to $1.2B-$1.3B, backs production view
Cenovus Energy is reducing planned capital spending by $200M-$300M compared with the company's original 2016 budget released in December. Cenovus now plans to spend $1.2B-$1.3B, 27% less than in 2015 and 59% below 2014 levels. The company is also targeting additional operating and G&A cost savings of $200M in 2016 to match expected activity levels. Planned capital budget reductions for 2016 include lower spending at Cenovus's Foster Creek and Christina Lake oil sands operations, its emerging oil sands assets and the company's conventional oil business. The planned capital spending reductions are expected to have minimal impact on the company's oilsands production for 2016, which is forecast to remain within guidance, at between 144K bbls/d and 157K bbls/d net.
06:23 EDTCVECenovus Energy reports Q4 EPS (C$0.53) vs. (C$0.78) last year
Reports Q4 production 199,556 bbls/d.
06:23 EDTCVECenovus Energy cuts dividend 69% to C$0.05 per share
Cenovus Energy is reducing its dividend by 69% from 4Q15. For 1Q16, the board has declared a dividend of C$0.05 per share, payable on March 31 to common shareholders of record as of March 15. Based on the February 10 closing share price on the TSE of C$13.52, this represents an annualized yield of about 1.5%.
06:21 EDTCVECenovus Energy reports Q4 operating EPS (53c), consensus (21c)
Reports Q4 total oil production of 199,556 bbls/d and natural gas production of 424 MMcf/d. Oil sands operating costs declined $3.37/bbl or 25% to $10.13/bbl in 2015. This included a 19% decrease in non-fuel operating costs to $7.66/bbl.
February 8, 2016
19:49 EDTSUCanadian Oil Sands replaces CEO after Suncor wins over shareholders
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February 7, 2016
14:40 EDTSUSuncor says COS holders tender 73% of shares, extends offer to February 22
Suncor (SU) announced Friday that approximately 72.9% of Canadian Oil Sands (COSWF) shares, equating to roughly 353.3M common shares, and accompanying rights have been tendered to Suncor's offer. All shares tendered were held by independent shareholders as such term is defined by Canadian Oil's shareholder rights plan. Suncor has extended its offer to February 22. Further extensions are not anticipated, the company noted. Based on the closing trading price of Suncor's common shares on the Toronto Stock Exchange on February 5, the offer represents an implied acquisition price of C$8.93 per share. Suncor will complete a subsequent acquisition transaction to acquire the remaining shares. All shares that remain outstanding will be acquired at the same price of 0.28 of a common share of Suncor. Suncor intends for the offer and the subsequent acquisition transaction to be treated as a reorganization for U.S. federal income tax purposes. If the offer is so treated, a U.S. resident Canadian Oil shareholder generally will not recognize gain or loss for U.S. federal income tax purposes on the exchange. Reference Link
February 4, 2016
14:29 EDTSUSuncor CEO sees being able to protect dividend
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February 3, 2016
20:07 EDTSUSuncor, Canadian Oil Sands reach agreement for COS board support
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20:04 EDTSUSuncor reports Q4 operating EPS (2c), consensus 13c
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14:48 EDTSUNotable companies reporting after market close
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05:08 EDTSUSuncor reminds Canadian Oil Sands holders to tender shares by Feb. 5 deadline
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February 1, 2016
05:34 EDTCEOCNOOC announces two new projects commence production
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