Cenovus Energy Inc. is a Canadian integrated oil and natural gas company headquartered in Calgary, Alberta. The company was established in 2009 through a spin-off from Encana Corporation and further expanded its operations in January 2021 with the acquisition of Husky Energy. Cenovus explores for, develops and produces bitumen, synthetic crude, conventional crude oil and natural gas, and operates a network of midstream and downstream assets across North America.
In its upstream segment, Cenovus holds extensive oil sands leases in northeastern Alberta, including the Sunrise and Foster Creek projects operated with steam-assisted gravity drainage (SAGD) technology. The company also manages conventional light and medium crude oil and natural gas production in Western Canada and select U.S. onshore plays. These operations are supported by a commitment to operational efficiency, cost control and the application of enhanced recovery techniques to maximize resource recovery.
Through strategic joint ventures and wholly owned assets, Cenovus operates a refining portfolio in both Canada and the United States. The company holds a majority interest in two refineries in Lloydminster and Moose Jaw, Saskatchewan, and maintains interests in four Gulf Coast refineries via a long-standing partnership with Phillips 66. Refined products include gasoline, diesel, jet fuel, asphalt and petrochemicals, which are marketed domestically and exported to key international customers. Cenovus also leverages Husky’s retail service station network to distribute fuels and convenience offerings in Western Canada.
Under the leadership of President and Chief Executive Officer Alex Pourbaix, Cenovus continues to pursue sustainability initiatives, aiming to reduce greenhouse gas emissions intensity and achieve net-zero emissions by 2050. The company participates in regional carbon capture projects, invests in water-management technologies and publishes annual sustainability reports detailing its environmental, social and governance (ESG) performance. Cenovus Energy is listed on both the Toronto Stock Exchange and the New York Stock Exchange under the ticker symbol CVE.