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Cenovus Energy files for $7.5 billion mixed shelf offering
September 28, 2017 / 10:19 PM / 19 days ago

Cenovus Energy files for $7.5 billion mixed shelf offering

President and CEO Brian Ferguson of Cenovus Energy addresses shareholders during the company's annual general meeting in Calgary, Alberta, April 29, 2015. REUTERS/Todd Korol

CALGARY, Alberta (Reuters) - Canadian oil and gas producer Cenovus Energy (CVE.TO) filed a mixed shelf offering for $7.5 billion with Canada and U.S. regulators on Thursday, although the company said it currently has no plans to issue more debt or equity.

In a mixed shelf a company may sell securities in one or more separate offerings without filing a prospectus for each one. The filing does not necessarily mean the securities will be sold.

Cenovus spokesman Reg Curren said the filing is a “corporate housekeeping measure” that updates the company’s existing prospectus for a $5 billion mixed shelf offering, which expires next year.

It means the company will be able to cover existing debt and equity commitments related to its $13.3 billion purchase of ConocoPhillips (COP.N) assets, which closed earlier this year, and provides extra capacity for spending over the next 25 months, Curren said.

Reporting by Nia Williams; Editing by Leslie Adler

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