Cenovus Energy supports communities impacted by Alberta wildfires

Cenovus Energy supports communities impacted by Alberta wildfires

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced a $200,000 donation to the Canadian Red Cross 2023 Alberta Fires Appeal to help support immediate relief efforts for the people and communities impacted by the ongoing wildfire situation in the province. In addition, the company is matching employees' individual donations to fire relief efforts made through Cenovus Cares, its giving and volunteering program.

Cenovus's donation will assist the Canadian Red Cross in its ongoing relief efforts for people who have been evacuated from their homes, as well as recovery and resilience measures to respond to fires over the longer term. Cenovus is a significant operator of conventional oil and natural gas assets in the affected regions in north-central Alberta and the wildfires have forced many Cenovus staff from their homes, as well as other residents.

"The safety of our staff and their neighbours during this difficult time is our priority, and we're doing what we can to support them," said Jon McKenzie, Cenovus President & Chief Executive Officer. "Once the wildfire threat has subsided, we'll continue to work with impacted communities in our operating areas to determine how we can best support a resilient recovery."

Cenovus is grateful for the efforts of its teams who have worked tirelessly to keep the company's people and assets safe, as well as the support of provincial emergency management teams, firefighters and other first responders to keep our communities safe.

Cenovus Energy Inc.

Cenovus Energy Inc. is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The company is focused on managing its assets in a safe, innovative and cost-efficient manner, integrating environmental, social and governance considerations into its business plans. Cenovus common shares and warrants are listed on the Toronto and New York stock exchanges, and the company's preferred shares are listed on the Toronto Stock Exchange. For more information, visit cenovus.com .

Find Cenovus on Facebook , Twitter , LinkedIn , YouTube and Instagram .

Cenovus contacts:

Investors Media
Investor Relations general line
403-766-7711
Media Relations general line
403-766-7751


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Cenovus Energy updates production impact of Alberta wildfires

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has safely restarted approximately 62,000 barrels of oil equivalent per day (BOEd) of production, from the 85,000 BOEd impacted in May due to wildfires. Assuming the current wildfire conditions continue, Rainbow Lake operations are expected to return to production within seven to 10 days, which represents approximately 20,000 BOEd. About 3,000 BOEd remains offline awaiting power infrastructure to be rebuilt in various remote locations.

As staff have been able to access sites, to date no significant damage has been identified. The overall wildfire situation continues to be closely monitored and other assets, including the company's oil sands operations and Lloydminster complex, have not been impacted.

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Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is providing an update on its Conventional production operations following ongoing wildfire activity in northern Alberta. Fires in the north-central region of the province have led the Government of Alberta to declare a state of emergency and a number of communities are under evacuation orders. With a focus on the safety of its people and integrity of its assets, on May 4, as a precaution, Cenovus began safely and methodically shutting in a number of producing Conventional fields and bringing down processing plants.

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Keith M. Casey 1,559,229,713 99.70 4,734,069 0.30
Canning K.N. Fok 1,231,407,696 78.74 332,556,083 21.26
Jane E. Kinney 1,559,102,298 99.69 4,861,482 0.31
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Natural gas, NGLs and crude oil sales:

Corporate Presentation

Alvopetro's updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation .

Social   Media

Follow Alvopetro on our social media channels at the following links:

Twitter - https://twitter.com/AlvopetroEnergy
Instagram - https://www.instagram.com/alvopetro/
LinkedIn - https://www.linkedin.com/company/alvopetro-energy-ltd
YouTube - https://www.youtube.com/channel/UCgDn_igrQgdlj-maR6fWB0w

Alvopetro Energy Ltd. is deploying a balanced capital allocation model where we seek to reinvest roughly half our cash flows into organic growth opportunities and return the other half to stakeholders. Alvopetro's organic growth strategy is to focus on the best combinations of geologic prospectivity and fiscal regime. Alvopetro is balancing capital investment opportunities in Canada and Brazil where we are building off the strength of our Caburé and Murucututu natural gas fields and the related strategic midstream infrastructure.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

All amounts contained in this new release are in United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.

Abbreviations:

boepd

=

barrels of oil equivalent ("boe") per day

bopd

=

barrels of oil and/or natural gas liquids (condensate) per day

Mcf

=

thousand cubic feet

Mcfpd

=

thousand cubic feet per day

MMcfpd

=

million cubic feet per day

NGLs

=

natural gas liquids

Q1 2025

=

three months ended March 31, 2025

Q4 2024

=

three months ended December 31, 2024

BOE Disclosure . The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.

SOURCE Alvopetro Energy Ltd.

Cision View original content: http://www.newswire.ca/en/releases/archive/April2025/03/c2450.html

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