CVE

Cenovus Energy Inc. is a Canadian integrated oil and natural gas company engaged in oil sands development and production, conventional crude oil and natural gas production, and petroleum refining. The company operates oil sands projects in Alberta including Foster Creek and Christina Lake SAGD operations, offshore production in the Atlantic region, refining and upgrading facilities, and a retail network. Cenovus produces heavy oil from oil sands, conventional oil and natural gas, and operates refineries processing crude oil into refined products. The company completed transformative acquisitions of Husky Energy in 2021 and additional ConocoPhillips Western Canada assets, becoming Canada's third-largest oil and gas producer. Headquartered in Calgary, Alberta, Cenovus operates across the integrated oil and gas value chain. The company benefits from low-cost oil sands production, refining integration providing downstream exposure, substantial resource base, and strong balance sheet following debt reduction. Cenovus faces commodity price volatility, oil sands cost and environmental pressures, pipeline constraints, regulatory risks, and energy transition challenges. The company has delivered strong free cash flow and shareholder returns. Cenovus continues to optimize operations, invest in sustainable technologies, and allocate capital efficiently.