Company Report

Cenovus Energy corporate report

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Report summary

Cenovus has benefitted significantly from its modular-project development strategy. It has allowed the company to react quickly to lower prices, scaling back on spending and shelving planned phases at its oil sands projects. Achieving sustainable cost reductions has been a priority under the lower-for-longer price outlook, with over Cdn$500 million of cost savings realised in 2016. The company's cash flow breakeven has reduced dramatically, and is now in the region of US$60/bbl Brent over the next two years. With financial health now largely restored, in 2017 Cenovus can start to accelerate growth by increasing investment.

What's included

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    Cenovus Energy corporate report

    PDF 354.99 KB

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    Cenovus Energy corporate report

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    Cenovus Energy.xlsx

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Table of contents

Tables and charts

This report includes 34 images and tables including:

Tables

  • SWOT analysis
  • Portfolio summary: Table 1
  • Base price assumptions (nominal terms)
  • High price assumptions
  • Low price assumptions
  • Economic assumptions: Table 4
  • Economic assumptions: Table 5

Images

  • Benchmarking: share price performance
  • Benchmark: enterprise value vs WM NPV10
  • Forecast development expenditure (nominal)
  • Forecast operating expenditure (nominal)
  • Reported costs incurred
  • New project returns
  • Base price assumptions (nominal terms)
  • Base, high and low Brent (nominal terms)
  • Corporate breakeven (excl. downstream)
  • Net debt evolution
  • Upstream EV vs. upstream NPV10
  • Upstream portfolio sensitivities
  • Base case upstream NPV, 10
  • Current NPV, 10 vs NPV, 10 +5 years
  • WM forecast production
  • WM oil vs. gas production
  • WM oil production forecast
  • WM gas production forecast
  • Total reserves: WM commercial
  • Total reserves: reported vs. Wood Mackenzie (by region)
  • Oil reserves and resources: reported vs. Wood Mackenzie
  • Gas reserves and resources: reported vs. Wood Mackenzie
  • Company breakeven vs gearing ratios
  • Benchmark pricing
  • Cenovus Christina Lake netbacks
  • Production outlook
  • Deep basin asset sensitivities

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