Cenovus Energy Inc. has completed its acquisition of MEG Energy Corp., adding top-tier oil sands assets to its portfolio. The total consideration paid included $752 million in cash, $3.44 billion to MEG shareholders, and 143.9 million Cenovus common shares. The acquisition immediately adds approximately 110,000 barrels per day of oil sands production to Cenovus. The MEG common shares are expected to be delisted from the Toronto Stock Exchange on November 14, 2025. Cenovus will provide updated guidance with its 2026 budget on December 11, 2025. The acquisition is expected to create significant value for Cenovus.

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