Cenovus – Oil & Gas 360

MEG Shareholders Set to Vote on Critical Decision – Cenovus vs. Strathcona vs. Going it Alone

October 3, 2025

(BOE Report)– The contest for MEG Energy is entering its final stages, with two competing bids on the table and shareholders set to vote in October. The upcoming votes will determine whether MEG is acquired by Cenovus, taken over by Strathcona, or remains independent. Key Dates Ahead Several important dates now define the timeline: October 7: Proxy voting deadline for MEG shareholders

Strathcona seeks to block $5.7 billion Cenovus deal to buy MEG Energy

August 29, 2025

(Oil Price)– Previously rejected MEG Energy bidder Strathcona Resources intends to buy an additional 5% stake in MEG and vote these shares and the existing 9.2% stake against the Cenovus acquisition offer for MEG, as the latest major Canadian deal faces hurdles towards completion. Last week, Cenovus Energy announced it has entered into a definitive arrangement agreement to acquire MEG Energy Corp

Cenovus to acquire oil sands producer MEG for $5.7 billion

August 25, 2025

(World Oil) – Cenovus Energy has entered into a definitive agreement to acquire MEG Energy in a cash and stock transaction valued at $7.9 billion CAD ($5.7 billion USD), inclusive of assumed debt. The deal follows MEG’s recent rejection of a lesser takeover bid from Strathcona Resources. The acquisition brings together two leading SAGD oil sands producers with combined oil sands production of

Cenovus acquiring outstanding 50% interest in Sunrise oil sands asset

June 13, 2022

Yahoo Finance Publisher’s Note: BP will be presenting at EnerCom Denver-The Energy Investment Conference on August 7-10, 2022. Register to attend. CALGARY, Alberta, June 13, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has reached an agreement to purchase the remaining 50% of the Sunrise oil sands project in northern Alberta from bp. Total consideration for the

Canada’s Cenovus reaches share price highs not seen since 2017

January 7, 2022

World Oil (Bloomberg) –For a few fleeting hours Thursday, shares of Cenovus Energy Inc., one of Canada’s biggest oil producers, bounced back to highs not seen since its massive stock issuance to buy assets from ConocoPhillips four and a half years ago. Cenovus extended three days of gains to rise as much as 6% at midday to C$17.53, briefly eclipsing

Oil Sector’s ‘Existential Crisis’ Set Precedent: Cenovus CEO

May 29, 2019

From The Globe and Mail Canadian oil producers faced an “existential crisis” that required emergency intervention last fall, and Alberta Premier Jason Kenney now has a precedent to order companies to ratchet back output again should heavy oil prices crash, says Alex Pourbaix, chief executive of Cenovus Energy Inc. Former premier Rachel Notley’s government imposed a reduction of 325,000 barrels

Cenovus Cheers Alberta Oil Curtailments as Profits Return

April 24, 2019

From Reuters Canada’s Cenovus Energy on Wednesday praised government-ordered oil production cuts that have dramatically improved Canadian crude oil prices, allowing the company to post a return to quarterly profits after a torrid 2018. Canada’s main oil-producing province Alberta ordered companies to cut output by 325,000 barrels per day (bpd), effective Jan. 1, 2019, to deal with pipeline bottlenecks that

Canada’s Cenovus Bets on Rail to Move Crude, Fearing Full Pipelines

February 21, 2019

From Reuters Cenovus Energy is pressing ahead with aggressive plans to transport more crude by rail, contrasting itself with peers who have hit the brakes, as the Canadian oil producer bets that pipeline bottlenecks are likely to return. Pipeline congestion depressed Canadian oil prices last year, prompting Cenovus and other producers to increase their reliance on rail to move crude

Canada’s Cenovus Sticks to Shipping Oil by Rail Despite Price Swings

February 13, 2019

From Reuters Canadian oil producer Cenovus Energy Inc is sticking to its plan to accelerate rail shipments starting in the second quarter, as crude transported by that form remains profitable despite price swings this year, its chief executive said. Cenovus signed long-term agreements in September with Canadian National Railway Co and Canadian Pacific Railway, when Canadian heavy crude was selling

Notley Leaves Alberta Oil Industry Hanging on Output-Cut Idea

November 30, 2018

From Bloomberg Premier makes no mention of curtailment in Toronto speech CTV Interview Wednesday had raised expectation that she would Alberta Premier Rachel Notley reiterated her call for Canadians to support new oil pipelines and improve two energy bills at a speech in Toronto, but made no mention of whether she’ll mandate crude-production cuts. Suffering from record-low prices because of

Cenovus Eyes Further Expansion of Crude-by-Rail Deals

November 1, 2018

From Reuters CALGARY, Alberta (Reuters) – Canadian oil producer Cenovus Energy Inc (CVE.TO) is considering further expansion of its agreements to move crude by rail on Canada’s two major railways, its chief executive said on Wednesday. Last month, Cenovus signed three-year deals with Canadian National Railway Co (CNR.TO) and Canadian Pacific Railway Ltd (CP.TO) to transport roughly 100,000 barrels

ConocoPhillips Prepares to Sell $2 Billion Cenovus Share

June 4, 2018

From Reuters ConocoPhillips (COP.N) is preparing to offload its stake in Cenovus Energy Inc (CVE.TO), which it acquired as part of an asset sale to the Canadian oil and gas producer last year, people familiar with the matter told Reuters. The U.S. energy company has held discussions with investment banks about appointing advisers to the sale and could offer the

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