NYSE:CVE

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Cenovus Energy (TSX: CVE) (NYSE: CVE) reported strong fourth-quarter and full-year 2025 results, highlighted by record production and solid cash generation.

In Q4, the company generated $2.4 billion in cash from operating activities, $2.7 billion in adjusted funds flow and $1.3 billion in free funds flow. Upstream production reached a record 917,900 BOE/d, up 5% year-over-year excluding MEG, while Downstream crude throughput averaged 465,500 bbls/d at 98% utilization.

Oil Sands production hit a quarterly record of 726,600 BOE/d, and the Foster Creek optimization project added roughly 30,000 bbls/d ahead of schedule. Cenovus also completed the MEG Energy acquisition and expects annual synergies of $150 million in 2026–2027, rising to over $400 million from 2028.

The company returned $1.1 billion to shareholders in Q4 through share buybacks and dividends.

Source: GlobeNewswire.
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WS Investor 02-19-26
Cenovus Energy announced its 2026 capital budget and corporate guidance, outlining planned capital investments of $5.0 billion to $5.3 billion and upstream production of 945,000 to 985,000 BOE/d, reflecting about 4% year-over-year growth adjusted for the MEG acquisition. The company expects downstream crude throughput of 430,000 to 450,000 bbls/d, flat G&A costs versus 2025, and a continued focus on balancing debt reduction with shareholder returns following the completion of its recent growth investment cycle.

Source: Cenovus Energy, GlobeNewswire
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WS Investor 12-14-25
Cenovus Energy announced the acquisition of an additional 3.28 million common shares of MEG Energy Corp., bringing its total holdings to 25 million shares, or approximately 9.8% of MEG’s outstanding stock. All shares have been purchased since October 8, 2025, through the Toronto Stock Exchange and other Canadian markets.

The move supports Cenovus’s previously announced transaction with MEG, with the company stating it intends to vote its shares in favor of the deal. Cenovus noted it may adjust its holdings in MEG depending on market conditions and regulatory requirements.
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European Investor 10-15-25
Cenovus Energy announced the acquisition of 21.7 million shares of MEG Energy, representing 8.5% of MEG’s outstanding common shares, through trades on the Toronto Stock Exchange and other Canadian markets. The purchase, made since October 8, 2025, supports Cenovus’s previously announced transaction with MEG Energy.

Cenovus said it intends to vote the acquired shares in favor of the transaction and may adjust its holdings depending on market conditions and regulatory requirements. The move strengthens Cenovus’s position in the Canadian energy sector as it continues expanding its integrated oil and gas operations across Canada, the U.S., and Asia Pacific.
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WS Investor 10-14-25
Cenovus Energy announced it will sell its 50% stake in WRB Refining LP to joint venture partner Phillips 66 for $1.4 billion USD (about $1.9 billion CAD). The sale includes Cenovus’s interest in the Wood River Refinery in Illinois and the Borger Refinery in Texas, which together process nearly 495,000 barrels of crude per day.

Following the deal, Cenovus’s downstream business will center on refineries it fully controls, with a total capacity of about 473,000 barrels per day, 55% of which is heavy oil. CEO Jon McKenzie said the move sharpens Cenovus’s focus on core assets while generating funds to reduce debt and boost share buybacks.

The transaction is expected to close by the end of the third quarter of 2025, subject to regulatory and customary conditions.
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Global Finance News 09-09-25
Cenovus Q2 2025: Strong Operations, Project Milestones, $819M Returned to Shareholders

Cenovus Energy reported Q2 2025 cash from operations of $2.4 billion, with $1.5 billion in adjusted funds flow and $355 million in free funds flow. Upstream production averaged 765,900 BOE/d, impacted by planned maintenance and wildfires. Downstream throughput reached 665,800 bbls/d at 92% utilization.

Key milestones included first oil at Narrows Lake, progress on the West White Rose project, and major turnarounds at Foster Creek, Sunrise, and Toledo completed ahead of schedule. Cenovus returned $819 million to shareholders during the quarter. CEO Jon McKenzie highlighted the company’s shift toward higher free funds flow as major growth projects near completion.
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Global Finance News 07-31-25
Cenovus Energy has fully restored production at its Christina Lake oil sands facility following a wildfire-related shutdown. Operations resumed on June 3, with full ramp-up completed within the week. No damage was reported to company infrastructure. Cenovus continues to monitor wildfire risks in Alberta, prioritizing safety and expressing gratitude to its staff and emergency responders.
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Global Finance News 06-12-25
Cenovus Energy to Redeem C$150 Million in Series 7 Preferred Shares

Cenovus Energy (TSX/NYSE: CVE) announced it will redeem all 6 million of its 3.935% Series 7 Preferred Shares at C$25.00 per share on June 30, 2025, totaling C$150 million. The redemption will be primarily funded from cash on hand. A final dividend of C$0.24594 per share will also be paid on the same day to shareholders of record as of June 13.
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WS News 06-02-25