Welcome to our dedicated page for Cenovus Energy news (Ticker: CVE), a resource for investors and traders seeking the latest updates and insights on Cenovus Energy stock.
Cenovus Energy Inc. reports news about its integrated oil and gas operations, including production in Canada and the Asia Pacific region and upgrading, refining and marketing activities in Canada and the United States. Company updates commonly address oil sands, conventional and offshore production, downstream crude throughput, capital budgets, corporate guidance and operating results.
Recurring developments for CVE also include shareholder meeting results, auditor and director votes, dividend and preferred-share matters, senior note offerings, debt redemptions and other capital-structure actions tied to the company’s common shares listed on the Toronto and New York stock exchanges.
Cenovus Energy (TSX: CVE, NYSE: CVE) announced TSX approval to renew its normal course issuer bid to purchase up to 120,250,990 common shares from November 11, 2025 to November 10, 2026. The authorized amount represents 10% of Cenovus's public float as of October 31, 2025. As of October 31, 2025, Cenovus had 1,745,535,223 shares outstanding and had repurchased 82,563,942 shares under the prior NCIB at a weighted-average price of $21.58 per share.
Purchases will be made on the TSX, NYSE and alternative trading systems at market prices, include an automatic share purchase plan pre-cleared by the TSX, and all acquired shares will be cancelled. TSX daily purchases will be limited to 2,318,371 shares (25% of six-month ADTV of 9,273,486).
Cenovus (TSX: CVE; NYSE: CVE) reported Q3 2025 results on October 31, 2025, with record Upstream production of 832,900 BOE/d and record Downstream crude throughput of 710,700 bbls/d at ~99% utilization. The company generated approximately $2.1B cash from operations, $2.5B adjusted funds flow and $1.3B free funds flow. Net earnings were $1.3B. Cenovus received $1.8B net proceeds from the sale of its 50% interest in WRB on Oct 1 and returned $1.3B to shareholders, including $918M in buybacks. Subsequent to quarter-end, Cenovus announced an amended agreement to acquire MEG; MEG shareholder vote is scheduled for Nov 6, 2025 with closing expected in mid-November, subject to approvals.
Cenovus (TSX: CVE, NYSE: CVE) amended its arrangement to acquire MEG Energy (TSX: MEG) to offer MEG shareholders, for each MEG share, either $30.00 cash or 1.255 Cenovus shares, subject to rounding, pro-ration and maximums of $3.8 billion cash and 159.6 million Cenovus shares. On a fully pro-rated basis the mix is ~50% cash / 50% shares, valuing MEG at ~$30.00 per share based on Cenovus’s Oct 24, 2025 close. Strathcona entered a voting support agreement in favour of the transaction. Cenovus also agreed to sell certain Saskatchewan and Alberta assets to Strathcona for up to $150 million (including $75 million contingent).
The MEG shareholder meeting remains scheduled for Oct 30, 2025 and the proxy deadline is Oct 29, 2025.
Cenovus Energy (TSX:CVE, NYSE:CVE) will release its third-quarter 2025 results on Friday, October 31, 2025. The company said the release will include consolidated third-quarter operating and financial information and that financial statements will be available at cenovus.com.
A conference call for the results is scheduled for 9:00 a.m. MT (11:00 a.m. ET) on October 31, 2025. Analysts must register in advance to receive a unique PIN to access the call by phone or use the "Call Me" option. A live audio webcast will be available and archived for approximately 30 days.
Cenovus Energy (CVE) announced the special meeting of MEG shareholders related to Cenovus’s proposed acquisition of MEG has been postponed from Oct 22, 2025 to Oct 30, 2025, with the proxy deadline extended to Oct 29, 2025 at 9:00 a.m. (Calgary Time).
At postponement, ~63% of MEG shares represented were voting FOR the transaction (or >75% excluding Strathcona). The arrangement requires approval by at least 66 2/3% of MEG shares voted. Consideration options: $29.50 cash or 1.240 Cenovus shares per MEG share, subject to rounding, pro-ration, a $3.8B cash cap and a 157.7M share cap. Cenovus states the offer is final and represents a 44% premium to MEG’s unaffected 20-day VWAP as of May 15, 2025.
Cenovus Energy (TSX/NYSE: CVE) announced on October 15, 2025 that it acquired an additional 3,276,460 common shares of MEG Energy, bringing its aggregate ownership to 25,000,000 MEG common shares, representing 9.8% of 254,378,035 outstanding shares.
The shares were bought on the Toronto Stock Exchange and other Canadian markets in furtherance of Cenovus’s previously announced transaction with MEG; Cenovus said it intends to vote acquired shares in favour of that transaction and may increase or decrease its ownership subject to market conditions and securities laws.
Cenovus Energy (TSX/NYSE: CVE) acquired 21,723,540 common shares of MEG Energy, representing 8.5% of MEG's 254,378,035 outstanding shares, all purchased since Oct. 8, 2025 and announced on Oct. 14, 2025. The shares were bought on the Toronto Stock Exchange and other Canadian markets in furtherance of Cenovus's previously announced transaction with MEG.
Cenovus said it intends, to the extent able, to vote acquired shares in favour of the transaction and may, subject to securities laws and market conditions, increase or decrease its ownership. The release includes forward‑looking information and references Cenovus risk disclosures and filing locations for additional details.
Cenovus (TSX: CVE / NYSE: CVE) amended its agreement to acquire MEG Energy (TSX: MEG), offering each MEG share either $29.50 cash or 1.240 Cenovus shares, subject to pro‑ration with maximums of $3.8B cash and 157.7M Cenovus shares (pro‑rated mix ~50% cash / 50% shares). The fully pro‑rated value equals about $29.80 per MEG share at Cenovus’s Oct 7, 2025 close. The MEG shareholder meeting is postponed to Oct 22, 2025. Cenovus said key regulatory approvals were received. Q3 operational highlights: Upstream ~832,000 BOE/d, Oil Sands ~640,000 bbls/d, Downstream throughput ~712,000 bbls/d (98.8% utilization). WRB sale proceeds ~$1.8B; pro forma net debt ~$3.5B after proceeds.
Cenovus Energy (NYSE: CVE) has released a presentation highlighting the advantages of its proposed transaction with MEG Energy. The deal, unanimously approved by MEG's board, offers shareholders both cash and Cenovus shares as consideration. The company emphasizes this offer's superiority over a competing bid from Strathcona Resources.
Cenovus touts several key advantages of their offer, including scale, industry-leading experience, tier-1 assets, near-term growth potential, and diversified revenues. The company particularly highlights the opportunity for MEG shareholders to benefit from the integrated Christina Lake region's value upside. In contrast, Cenovus criticizes Strathcona's offer as inferior and risky, noting their shares are illiquid and overvalued, with concerns about control concentration under Waterous Energy Fund.
Cenovus Energy (NYSE:CVE) has announced an agreement to sell its 50% stake in WRB Refining LP to Phillips 66 for US$1.4 billion (approximately C$1.9 billion). The WRB joint venture includes the Wood River Refinery in Illinois and Borger Refinery in Texas, with a combined crude throughput capacity of 495,000 barrels per day.
Following the divestment, Cenovus's downstream operations will focus on its wholly-owned assets, including the Lloydminster Upgrader, Lloydminster Refinery, Lima Refinery, Toledo Refinery, and Superior Refinery, with a total crude throughput capacity of 472,800 barrels per day. The transaction proceeds will be used to reduce net debt and accelerate shareholder returns through increased share repurchases. The company has already purchased 18.8 million common shares for $388 million in Q3 up to August.