Cenovus Energy completes acquisition of MEG Energy

Cenovus Energy (CVE) announces that its acquisition of MEG Energy (MEGEF) was completed. “This acquisition strengthens Cenovus’s portfolio of long-life, low-cost oil sands assets, adding top-tier operations that are directly adjacent to the company’s Christina Lake asset,” the company stated. The acquisition immediately adds approximately 110,000 barrels per day of low-cost, long-life oil sands production to Cenovus. Cenovus will provide updated guidance to reflect the MEG acquisition with its 2026 budget on December 11, the company noted. The MEG common shares are expected to be delisted by the Toronto Stock Exchange at the close of market on November 14.