Canadian oil producer Cenovus Energy said it may sell up to $5billion of stock, debt or other securities.
The decision comes a day after it announced a dividend cut as the company looks to streamline its costs amid the decline in oil price.
Cenovus has filed with the US Securities and Exchange Commission for a mixed shelf offering after the company said it would be reducing its 2016 budget and reducing its headcount.
Both Oasis Petroleum and Pioneer Natural Resources have also launched stock offerings.
Earlier this week Cenovus cut its dividend by 69%.
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