Company report
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13 Pages

Cenovus Energy corporate report

Cenovus Energy corporate report

Report summary

Cenovus's uber-conservative response to the oil-price fall has provided financial health and flexibility, but at the expense of near-term growth and market sentiment. While its peers have pulled some of the levers available to them to preserve cash, Cenovus opted to pull all of them: ...

What's included?

This report includes 3 file(s)

  • Cenovus Energy corporate report PDF - 446.46 KB 13 Pages, 6 Tables, 14 Figures
  • Cenovus Interim Report.xls XLS - 483.50 KB
  • Cenovus Corporate Report.xls XLS - 2.92 MB


The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Company report offers thought-provoking insight into corporate financial health, investment strategy and operational outlook supported by our proprietary asset data and energy research experts.

Widely used by both the energy and financial sectors, our report gives you a unique perspective on key strategic and financial challenges, as well as opportunities facing this oil and gas company.

Wood Mackenzie provides an independent evaluation and expert opinion on the operational performance, strategy and future of the world's top oil and gas companies. Our unique, objective analysis helps you understand, validate, compare and challenge market and corporate views so you can assess strategic opportunities.

  • Executive summary
    • SWOT analysis
  • Strategy
    • Strategic positioning as oil prices collapsed
    • Strategic action to date
  • Economic assumptions
    • Wood Mackenzie Corporate Service: our response to low oil prices
    • Economic assumptions

In this report there are 20 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Strategy
    • Relative share price performance
    • Market premium / discount to WoodMac NPV,10
    • Spend*: historic and 2015 guidance
    • Dividends: reported vs. cash payments
    • Oil hedging: volumes and prices
    • Canadian-royalty transaction multiples
    • Projected annual cash flow breakeven (Brent)
    • Projected year-end net debt
    • Projected upstream cash flow
    • Evolution of dividend-payout ratio*
    • Total production: Wood Mackenzie projected
    • Remaining upstream NPV,10
  • Economic assumptions
    • Base price assumptions (nominal terms)
    • Base price assumptions (nominal terms)
    • Base, high and low Brent (nominal terms)
    • High price assumptions
    • Low price assumptions
    • Value assumptions
    • Foreign exchange rate assumptions
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Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

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At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.