Cenovus (CVE) May Seek Partner to Expand Outside of Midwest -Reuters
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Shares of Cenovus Energy (NYSE: CVE) have bounced over the last half hour of trade following a Reuters report which suggested the company may be looking for a partner which would have access to a "new" market, possibly on the west coast of the US or in Asia. The rumor comes as Cenovus is expecting an update on possible joint venture partners for the Telephone Lake oil sands project by the end of next month.
The Reuters report cited a Cenovus exec.
The stock last traded at $37.86, down about 1.2 percent from Monday's close, but well off the intraday low of $36.98.
The Reuters report cited a Cenovus exec.
The stock last traded at $37.86, down about 1.2 percent from Monday's close, but well off the intraday low of $36.98.
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