Last October, Cenovus Energy Inc. proposed merging with Husky Energy to create the third-largest Canadian oil and gas producer. The deal closed on Jan. 1. We now have our first indications of how the marriage is going. On Jan. 25, Cenovus released a $2.1-billion 2021 capital budget with an objective to generate about 755,000 barrels of oil equivalent per day. Meanwhile, since the October announcement, insiders have spent $731,358 buying shares in the public market. The most recent purchase was for 15,000 shares at $8.68 on Feb. 16.
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Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
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