Energy

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Husky Energy, Inc. breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with Cenovus Energy Inc. . Click her e to learn more and participate in the action. On October 25, 2020, Husky Energy announced that it had ...

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Husky Energy, Inc. (Other OTC: HUSKF) breached their fiduciary duties or violated the federal securities laws in connection with the company's merger with Cenovus Energy Inc. (NYSE: CVE).

Click her e to learn more and participate in the action.

On October 25, 2020, Husky Energy announced that it had signed an agreement to be acquired by Cenovus for approximately $3.8 billion. Pursuant to the merger agreement, Husky Energy stockholders will receive 0.7845 shares of Cenovus common stock and 0.0651 shares of a Cenovus purchase warrant for each share of Husky Energy common stock owned. The deal is expected to close in the first quarter of 2021.

Bragar Eagel & Squire is concerned that Husky Energy's board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Husky Energy's stockholders.

If you own shares of Husky Energy and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at investigations@bespc.com or telephone at (646) 860-9157, or by filling out this contact f orm . There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com . Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Alexandra Raymond, Esq.
investigations@bespc.com
www.bespc.com

Primary Logo

News Provided by GlobeNewswire via QuoteMedia

Cenovus releases 2022 budget, updated strategy and 5-year business plan

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today released its 2022 budget, updated corporate strategy, five-year business plan and environmental, social and governance (ESG) targets, built on the company's demonstrated operating strength, capital discipline and ESG leadership. The 2022 guidance includes capital spending of $2.6 billion to $3.0 billion and total production of approximately 800,000 barrels of oil equivalent per day (BOEd), factoring in major planned turnarounds and production impacts from assets sold in 2021. The company anticipates 2022 downstream throughput of about 555,000 barrels per day (bblsd). Cenovus has reaffirmed its commitment to growing shareholder returns, with planned allocation of about 50% of excess free funds flow in 2022 to shareholder returns, including the planned repurchase of up to 146.5 million common shares pursuant to the company's previously announced normal course issuer bid. As of December 7, there have been 9,719,100 shares repurchased by the company, at an average price of $15.82 per share. Remaining excess free funds flow will continue to be allocated to the reduction of net debt to below $8 billion.

Cenovus also released its latest ESG report today, which outlines ambitious new targets for the company's ESG focus areas, including plans for a 35% reduction in absolute greenhouse gas (GHG) emissions by the end of 2035 and the continuation of its ambition to achieve net zero emissions from operations by 2050.

Keep reading... Show less

AltaGas Announces 6% Dividend Increase and Adoption of a Quarterly Payment Schedule

AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) today announced that the Company's Board of Directors have approved a six percent increase to its annual common share dividends ( $1.06 per common share annually) for the 2022 calendar year. Concurrently, AltaGas is moving from a monthly to a quarterly payment schedule with dividends expected to be made in March, June, September and December of the 2022 calendar year and paid on a quarterly basis at the rate of $0.265 per common share. Subject to approval of the board of directors, the first quarterly dividend of $0.265 per common share ( $1.06 per common share annually) is expected to be effective for the March dividend that will be paid on March 31, 2022 to common shareholders of record on March 16, 2022 . Monthly dividend payments will continue until the end of 2021. The December dividend of $0.0833 per common share will be paid on December 31, 2021 to common shareholders of record on December 22 2021.  These dividends are eligible dividends for Canadian income tax purposes.

CEO MESSAGE

Keep reading... Show less

How to Invest in Oil and Gas

Energy stocks have had a rough go over the last few years, but the sector is still one of the largest and most lucrative.

Encouragingly, global energy investment has begun to stabilize in 2021 from previous COVID-19 induced volatility. The International Energy Agency (IEA) estimates this year will see energy investment rebound by 10 percent to reach US$1.9 trillion.

Within the energy market, the oil and gas industry dominates. Analysts believe the growing appetite for oil and gas from developing regions like Africa and India will drive the sector and the oil price well into the next decade. There is also significant growth potential in the oil industry as more industrialized countries like Canada and the UK continue to shift away from coal.

Keep reading... Show less

Cenovus announces asset sales of nearly $660 million

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has reached agreements to sell its Husky retail fuels network and the Wembley assets in its Conventional business for combined total cash proceeds of nearly $660 million, allowing the company to further focus the portfolio, accelerate deleveraging and support increasing shareholder returns.

"This is another demonstration of Cenovus delivering on opportunities to continue to optimize our portfolio and unlock value from assets that will not attract significant investment in our business," said Alex Pourbaix, Cenovus's President & Chief Executive Officer. "With these latest transactions, we now expect to realize more than $1.1 billion of total proceeds from sales announced in 2021."

Keep reading... Show less

AltaGas to Host 2021 Investor Day

AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) will host an Investor Day on Wednesday, December 15, 2021 . The event will be held virtually via webcast from Calgary, Alberta . Members of AltaGas' executive team will provide updates on the Company's corporate vision, strategy and outlook, along with the Company's near-term priorities and 2022 financial guidance.

Time:

Keep reading... Show less

PrairieSky Royalty Announces Agreement to Acquire Western Canadian Royalty Assets from Heritage Royalty for $728 Million and Concurrent Financing Transactions

-

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.

Keep reading... Show less

Top News

Related News