Thread regarding Cenovus Energy layoffs

More changes incoming

It’s likely CVE is looking to sell additional Deep Basin assets to shore up their balance sheet in 2018. Next asset traunch from rumblings I’ve heard is the remainder of Clearwater. I’ve also heard they plan to scrap a long term production growth plan and intend to consolidate their holdings in the most liquids rich areas in the Montney. Part of their rationale for the DB assets was they wanted a production hedge against propane/butane for Narrows SAP but that project has been deferred until 2022 or beyond.

Bumped from @QQOobHo-wrc for info.

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Post ID: @OP+QToQFl7

7 replies (most recent on top)

Well good thing AP is questioning the deal. It was a crazy deal CVE paid way to much money for it. I hope this company can survive but I don’t know how they can afford to.

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Post ID: @Eldw+QToQFl7

And what’s that gas worth?? Why bother

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Post ID: @Ecso+QToQFl7

The DB has not met expectations? Well maybe if CVE and AP would communicate with their employees and the street, everyone would benefit from the top tier results that the DB has achieved the last few months. We're talking record setting GAS and liquids rates, unprecedented results in many plays and new proven drillable targets previously untouched by offset operators. Nobody hears anything because nobody communicates anything. Instead of AP press releasing these amazing results, he just keeps questioning the deal, and questioning whether the people are the right people. No idea what AP is doing...other than letting a massive opportunity to improve the stock price by press releasing top tier results. It's all slip, slipping away!

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Post ID: @Dasz+QToQFl7

Oil is up stock is down. Yup hello layoffs.

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Post ID: @5sau+QToQFl7

Hello layoffs!

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Post ID: @5kis+QToQFl7

Say hello to 2018 and say hello to LAYOFFS :)

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Post ID: @5vsi+QToQFl7

CVE should sell all of the Deep Basin assets in 2018. People invest in this company for their oilsands assets and expertise. The DB sideshow has already not met expectations and the company can’t hope to compete with nimble, low-cost intermediates operating in the same areas. Management needs to figure this out already to increase shareholder value.

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Post ID: @4pjo+QToQFl7

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