Energy

Cenovus Energy Inc. and Husky Energy Inc. are pleased to announce the Court of Queen’s Bench of Alberta has issued a final order approving the previously announced Plan of Arrangement to combine the two companies. The court’s approval follows separate votes held on December 15, 2020 in which Cenovus common shareholders and Husky common shareholders, optionholders and preferred shareholders supported the proposed ...

Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and Husky Energy Inc. (TSX: HSE) are pleased to announce the Court of Queen's Bench of Alberta has issued a final order approving the previously announced Plan of Arrangement to combine the two companies. The court's approval follows separate votes held on December 15, 2020 in which Cenovus common shareholders and Husky common shareholders, optionholders and preferred shareholders supported the proposed transaction to combine the two companies into a resilient integrated energy leader.

Closing of the transaction remains subject to the receipt of all necessary regulatory approvals and to other customary closing conditions.

ADVISORY
This news release contains certain forward-looking statements and forward-looking information (collectively referred to as "forward-looking information") within the meaning of applicable securities legislation, including the United States Private Securities Litigation Reform Act of 1995, about our current expectations, estimates and projections about the future, based on certain assumptions made by Cenovus and Husky in light of their experience and perception of historical trends. Although Cenovus and Husky believe that the expectations represented by such forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Forward-looking information in this news release is identified by words such as "schedule", "will" or similar expressions and includes suggestions of future outcomes, including statements about the receipt of all necessary regulatory approvals.

Readers are cautioned not to place undue reliance on forward-looking information as Cenovus's actual results may differ materially from those expressed or implied. Cenovus and Husky undertake no obligation to update or revise any forward-looking information except as required by law. Developing forward-looking information involves reliance on a number of assumptions and consideration of certain risks and uncertainties, some of which are specific to Cenovus and/or Husky and others that apply to the industry generally. Material factors or assumptions on which the forward-looking information in this news release is based include successful closing of the transaction within expected timelines.

Additional information about assumptions, risk factors and uncertainties on which the forward-looking information is based and that could cause Cenovus's actual results to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements are described in Cenovus's 2020 guidance (dated April 1, 2020), Cenovus's Management's Discussion and Analysis (MD&A) for the year ended December 31, 2019 and its MD&A for the period ended September 30, 2020 as well as its Annual Information Form (AIF) and Form 40-F for the period ended December 31, 2019 (each available at cenovus.com ).

Husky's Annual Information Form for the year ended December 31, 2019, Management's Discussion and Analysis for the three and nine months ended September 30, 2020 and other documents filed with securities regulatory authorities (accessible through the SEDAR website at sedar.com and the EDGAR website at sec.gov ) describe some of the risks, material assumptions and other factors that could influence actual results in respect of Husky and are incorporated herein by reference.

About Cenovus
Cenovus Energy Inc. is a Canadian integrated oil and natural gas company. It is committed to maximizing value by sustainably developing its assets in a safe, innovative and cost-efficient manner, integrating environmental, social and governance considerations into its business plans. Operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface using a technique called steam-assisted gravity drainage (SAGD). The company also has conventional crude oil, natural gas and natural gas liquids assets in Alberta and British Columbia as well as 50% ownership in two U.S. refineries. Cenovus shares trade under the symbol CVE and are listed on the Toronto and New York stock exchanges. For more information, visit cenovus.com .

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

About Husky
Husky Energy is a Canadian-based integrated energy company. It is headquartered in Calgary, Alberta, and its common shares are publicly traded on the Toronto Stock Exchange under the symbol HSE. The Company operates in Canada, the United States and the Asia Pacific region with two business segments. The Integrated Corridor includes bitumen from thermal projects in the Lloydminster area of Saskatchewan, along with the Tucker Thermal Project and the Sunrise Energy Project in Alberta, with production integrated into Husky's downstream operations, which includes upgrading, refining and marketing of refined petroleum products. The Offshore business includes crude oil production offshore Newfoundland and Labrador and natural gas and liquids production offshore China and Indonesia. For more information, visit huskyenergy.com .

Find Husky on Facebook , Twitter , LinkedIn and Instagram .

Cenovus Contacts
Investor Relations
Sherry Wendt, Director, Investor Relations
403-766-7711
Media Relations
Brett Harris, Manager, Communications
403-766-3420
Husky Contacts
Investor Relations
Leo Villegas, Director, Investor Relations
403-513-7817
Media Relations
Kim Guttormson, Manager, Communication Services
403-298-7088



News Provided by GlobeNewswire via QuoteMedia

Rising Phoenix Royalties Announces 3rd Acquisition in 2022...Woodford Basin, Stephens County, Oil and Natural Gas Royalty Acquisition

Rising Phoenix Royalties (RPR) reveals a 49% oil51% natural gas royalty acquisition of roughly 5 net royalty acres from an undisclosed seller in the Woodford Basin, Stephens County, OK. Ovintiv Inc. (NYSE: OVV) (TSX: OVV) is the well-site Operator.

Keep reading... Show less
Decklar Resources Inc. Announces Closing of Funding Transaction With San Leon Energy

Decklar Resources Inc. Announces Closing of Funding Transaction With San Leon Energy

  • Decklar Petroleum and San Leon have agreed to new terms on financing arrangements whereby San Leon will advance US$4,750,000 immediately and an additional US$2,000,000 by April 30, 2022 (or San Leon will accept a pro rata reduction in its shareholding in Decklar Petroleum).
  • Terms of previously announced agreements between Decklar Petroleum and San Leon have been modified in order to complete the transaction.
  • The Option Agreement that would have entitled San Leon to additional participation in the Oza Oil Field and additional ownership in Decklar Petroleum has been terminated.
  • San Leon will be involved in planning and location of the first new well to be drilled on the Oza Oil Field.

Decklar Resources Inc. (TSX-V: DKL) (OTCQX: DLKRF) (FSE: A1U1) ( the "Company" or "Decklar") is pleased to announce the closing of a funding agreement with San Leon Energy Plc (" San Leon ") whereby the previously announced Subscription Agreement will be completed for gross proceeds of US$7,500,000 (of which US$750,000 was previously paid as a refundable deposit) with US$4,750,000 paid immediately and US$2,000,000 to be paid by April 30, 2022.

As detailed below, in 2020, the Company announced that San Leon had conditionally agreed to advance US$7,500,000 by way of a loan to Decklar's wholly-owned subsidiary, Decklar Petroleum Limited (" Decklar Petroleum "). San Leon also announced that it was subscribing for a 15% equity interest in Decklar Petroleum in order to participate in the Oza Oil Field in Nigeria. San Leon advanced an initial deposit of US$750,000 at the time of the agreement, with US$6,750,000 of San Leon's proposed loan remaining in escrow and to be released upon satisfaction (or waiver) of certain conditions precedent. Delays were experienced in concluding conditions precedent to the San Leon transaction, and Decklar proceeded to complete the re-entry and testing of the Oza-1 well. Based upon the Oza-1 well test, which indicated positive oil results from two zones and gas in a third zone, San Leon has agreed to advance the additional funds and to proceed with its investment in Decklar Petroleum. Decklar has agreed to modified terms to proceed with the arrangement with San Leon and to involve San Leon in future development planning.

Keep reading... Show less
Southern Energy Corp. Announces Spudding of Three Well Drilling Program

Southern Energy Corp. Announces Spudding of Three Well Drilling Program

Southern Energy Corp. ("Southern" or the "Company") (SOU:TSXV) (AIM:SOUC) announces the spudding of its three Selma Chalk horizontal wells in the Gwinville field targeting natural gas. The three wells will be drilled from the same surface pad site and batch drilled for operational and capital efficiencies. Subject to successful completion, first production from the wells is expected in April 2022. The Company has posted a short video under the Presentations and Events heading on batch drilling available on its website at www.southernenergycorp.com

Ian Atkinson, President and CEO of Southern, commented:

Keep reading... Show less
Southern Energy Corp. Announces Director Share Purchase

Southern Energy Corp. Announces Director Share Purchase

Southern Energy Corp. ("Southern" or the "Company") (TSXV:SOU)(AIM:SOUC) announces the following purchases of Company common shares. The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail on the applicable transaction

1. Details of the person discharging managerial responsibilities / person closely associated
a) Name Steven Smith
2. Reason for the notification
a) Position/status Director
b) Initial notification /Amendment Initial notification
3. Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a) Name Southern Energy Corp.
b) LEI 213800R25GL7J3EBJ698
4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a) Description of the financial instrument, type of instrument Common shares in Southern Energy Corp.
Identification code CA8428133059
b) Nature of the transaction Purchase of common shares on the open market
c) Price(s) and volume(s) 200,000 common shares at a price of CAD0.4088
d) Aggregated information N/A
e) Date of the transaction 18 January 2022
f) Place of the transaction Toronto Stock Exchange

For further information, please contact:

Keep reading... Show less
Southern Energy CEO Ian Atkinson

Southern Energy CEO Ian Atkinson: Redeveloping and Recapitalizing Reservoirs for the Clean Energy Market

Southern Energy (TSXV:SOU) is pivoting away from burning coal to generate power, and Southern Energy CEO Ian Atkinson says the company's strategy focuses on the conventional nature of some undercapitalized assets.

Keep reading... Show less

Ovintiv to Host its 2021 Fourth Quarter and Year-end Results Conference Call and Webcast on February 25, 2022

 Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today announced plans to hold its 2021 fourth quarter and year-end results conference call at 9:00 a.m. MT on Friday, February 25, 2022 . The Company plans to release its financial and operating results after market close, Thursday, February 24, 2022 . In addition to the release, supplemental slides and financial statements will be available on the Company's website, located at www.ovintiv.com .

Keep reading... Show less

Latest Press Releases

Related News

×