WS Investor
19 Feb 2026, 21:09
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.
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.