Full-Time
Wapiti Operator
Northern Corridor Operations
Posted on 9/8/2026
Cenovus Energy
1,001-5,000 employees
Integrated oil sands producer and refiner
No salary listed
Grande Prairie, AB, Canada
In Person
The successful candidate must reside in or around Grande Prairie.
 Manufacturing & Production Operations (1) |
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- Legally authorized to work in Canada.
- Minimum Grade 12 education.
- Minimum 5 years of experience.
- Maintain a Class 5 driver's license and a satisfactory driving record.
- Successfully complete required pre-employment medical and alcohol/drug assessments.
- Provide a driver's abstract as part of pre-employment screening.
- Operate, maintain, troubleshoot, and optimize wells, compression systems, pipelines, and related facilities to ensure safe and efficient performance.
- Enhance production and equipment uptime while proactively identifying cost-saving and improvement opportunities.
- Conduct hazard assessments, initiate Safe Work Permits, and demonstrate safety leadership.
- Independently manage call-outs, troubleshoot compression-system issues, and identify ways to reduce future call-outs.
- Supervise contractors and ensure execution of maintenance activities.
- Support new well and facility start-ups and other operational activities.
- Support compliance with corporate policies, government regulations, and safety programs, including ERP and Oil Spill Exercise Training.
- Accurately input downtime coding and production data and maintain timely, precise reporting and documentation.
- Use IOC to drive operational efficiency and contribute to planning, peer reviews, and continuous improvement efforts.
- Oil and gas treating and compression experience.
Cenovus Energy is a Canadian energy company that grew by splitting from Encana and concentrating on Alberta oil sands, later expanding through an all-stock deal to acquire Husky Energy. It mines and produces crude oil and natural gas from oil sands assets (like Foster Creek and Christina Lake) and, after acquiring Husky, adds a large refining and upgrading network in Canada and the United States. This combination makes Cenovus an integrated energy player with upstream production and downstream refining capacity. Unlike some peers that focus on either exploration or refining, Cenovus differentiates itself through its integrated model and its strategy of growth via combinations—first a demerger, then a major acquisition—to gain scale and hedge against price swings. The company’s goal is to become a leading, resilient, North American integrated energy company by connecting oil sands production with refining and marketing to create value for shareholders.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Calgary, Canada
Founded
2009
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Simplify's Take
What believers are saying
- Q2 2026 adjusted funds flow hit C$5.0 billion, funding buybacks and dividends.
- July 2026 production crossed one million BOE/d, lifting 2026 guidance to 970,000-1,010,000.
- Net debt fell to C$5.4 billion, enabling 75% shareholder returns above C$6 billion.
What critics are saying
- Ottawa's carbon-pricing deadlock blocks greenfield oil-sands growth and delays sanctioned expansions.
- June 2026 Foster Creek power outage cut output and triggered force majeure.
- Lima refinery storm damage and any West White Rose slip directly hit 2026 cash flow.
What makes Cenovus Energy unique
- Cenovus pairs oil sands with refining, smoothing cash flow through price cycles.
- Christina Lake, Foster Creek, and Sunrise produced record Q2 2026 volumes.
- West White Rose and MEG assets deepen integrated Canadian heavy-oil scale.
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Benefits
Paid Vacation
Health & dental benefits
Substantial mental health coverage
Life insurance
Disability benefits
Employee family assistance
Virtual healthcare coverage
Paid vacation (including a flex day program for eligible staff)
401(k) Retirement Plan
401(k) Company Match
Wellness Program
Flexible Work Hours
Hybrid Work Options
Remote Work Options
Stock Options
Company Equity
Conference Attendance Budget
Professional Development Budget
Family Planning Benefits
Fertility Treatment Support
Education assistance for additional development
Leadership development programs
Paid Holidays
Parental Leave
Adoption Assistance
Childcare Support
Elder Care Support
Tuition Reimbursement
Professional Certification Support
Phone/Internet Stipend
Home Office Stipend
Meal Benefits
Meal Benefits
Relocation Assistance
Employee Referral Bonus
Traval?
Meal Benefits
Company News
Cenovus Energy (TSE:CVE) hits new 1-year high - still a Buy? September 8, 2026 Key points. * Cenovus Energy shares reached a new 52-week high of C$46.60 and last traded at C$45.59, up 1.5%, giving the company an approximately C$83.9 billion market capitalization. * Analyst sentiment is broadly positive: two analysts rate the stock "Strong Buy," ten rate it "Buy," and two rate it "Hold." Several firms raised their targets to between C$49 and C$52, although the consensus target is C$44.44. * Cenovus reported quarterly EPS of C$1.53 on C$17.43 billion in revenue and declared a quarterly dividend of $0.22 per share, equivalent to an annualized yield of about 1.9%. Recent insider activity was primarily selling, including substantial share disposals by a director and an insider. * MarketBeat previews the top five stocks to own by October 1st. Shares of Cenovus Energy Inc. (TSE:CVE - Get Free Report) NYSE: CVE hit a new 52-week high during trading on Tuesday. The company traded as high as C$46.60 and last traded at C$45.59, with a volume of 2603583 shares. The stock had previously closed at C$44.83. Analyst ratings changes. A number of brokerages have issued reports on CVE. TD boosted their price objective on shares of Cenovus Energy from C$46.00 to C$49.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Gerdes Energy Research raised shares of Cenovus Energy from a "neutral" rating to a "buy" rating and raised their target price for the stock from C$42.00 to C$46.00 in a research report on Monday, June 29th. Canadian Imperial Bank of Commerce lifted their target price on shares of Cenovus Energy from C$48.00 to C$52.00 in a research note on Thursday, August 27th. Royal Bank Of Canada boosted their price target on shares of Cenovus Energy from C$47.00 to C$51.00 and gave the company an "outperform" rating in a research report on Thursday, July 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Cenovus Energy from C$45.00 to C$51.00 in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Cenovus Energy has an average rating of "Buy" and a consensus target price of C$44.44. Cenovus Energy trading up 1.5%. The stock has a market cap of C$83.89 billion, a P/E ratio of 12.64, a PEG ratio of 0.09 and a beta of 0.19. The company has a current ratio of 1.63, a quick ratio of 1.00 and a debt-to-equity ratio of 34.01. The stock's fifty day moving average price is C$41.02 and its 200 day moving average price is C$37.96. Cenovus Energy (TSE:CVE - Get Free Report) NYSE: CVE last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$1.53 earnings per share (EPS) for the quarter. Cenovus Energy had a net margin of 12.37% and a return on equity of 21.02%. The company had revenue of C$17.43 billion during the quarter. Equities research analysts expect that Cenovus Energy Inc. will post 2.2619279 earnings per share for the current year. Cenovus Energy dividend announcement. The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.9%. Cenovus Energy's dividend payout ratio (DPR) is currently 22.78%. Insider activity. In related news, Director Alex Pourbaix sold 432,731 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of C$42.05, for a total value of C$18,196,338.55. Following the sale, the director owned 1,455,996 shares in the company, valued at C$61,224,631.80. This represents a 22.91% decrease in their position. Also, insider John F. Soini sold 26,223 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of C$44.92, for a total value of C$1,177,937.16. Following the transaction, the insider directly owned 2,114 shares of the company's stock, valued at approximately C$94,960.88. This trade represents a 92.54% decrease in their position. Over the last ninety days, insiders sold 601,524 shares of company stock worth $25,546,211. Insiders own 32.03% of the company's stock. Cenovus Energy company profile. Cenovus Energy is an integrated oil company, focused on creating value through the development of its oil sands assets. The company also engages in production of conventional crude oil, natural gas liquids, and natural gas in Alberta, Canada, with refining operations in the U.S. Net upstream production averaged 472 thousand barrels of oil equivalent per day in 2020, and the company estimates that it holds 6.7 billion boe of proven and probable reserves. Further reading. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Cenovus Energy, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cenovus Energy wasn't on the list. While Cenovus Energy currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys. With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow. Continue following MarketBeat
Cenovus Energy sets record Q2 oil sands output at 786,000 barrels per day as funds flow climbs to $5 billion. Cenovus Energy set company records in Q2 with oil sands output at 786,000 bpd and adjusted funds flow of $5 billion, raising full-year production guidance. Cenovus Energy reported its best quarterly financial results on July 29, posting adjusted funds flow of $4.99 billion CAD and net earnings of $2.87 billion CAD for the second quarter of 2026. Oil sands production reached a record 786,400 barrels per day, driven by simultaneous production records at Christina Lake and Sunrise. The company raised its full-year production guidance by 25,000 barrels of oil equivalent per day in the same announcement. Oil sands divisions: Christina Lake sets the pace. Christina Lake produced 372,100 barrels per day in Q2, a record for that facility. Sunrise contributed 65,700 barrels per day, also a record. Foster Creek generated 214,500 barrels per day, down from 223,000 in Q1 after an unplanned disruption in late May, though the asset remained within its long-term operating range. Cenovus completed the enhanced sulphur recovery project at Foster Creek during the quarter. The project is expected to reduce per-barrel operating costs at Foster Creek by $0.50 to $0.75. As a result, oil sands operating cost guidance for the full year moved to $10.75 to $11.75 per barrel of oil equivalent, down from the prior range of $11.25 to $12.75. Assets assembled through two major acquisitions. Foster Creek and Christina Lake were co-owned with ConocoPhillips until Cenovus acquired the U.S. major's working interest in those oil sands assets in 2017. That transaction brought both facilities entirely under Cenovus control. Sunrise, the former Husky Energy thermal SAGD project, joined the portfolio when Cenovus acquired Husky Energy in January 2021. Christina Lake North, recently acquired from MEG Energy, is an expansion asset that CEO Jon McKenzie described as one where Cenovus plans to "advance the in-flight expansion." That asset contributed to the record oil sands volume in Q2. The Christina Lake complex is now Cenovus's highest-producing single oil sands site. Derived metric: $56.46 CAD per barrel in adjusted funds flow. Cenovus produced 970,400 barrels of oil equivalent per day across 91 calendar days in Q2, totaling approximately 88.3 million BOE for the quarter. Dividing adjusted funds flow of $4.986 billion CAD by that volume produces $56.46 CAD per BOE, a ratio not published in the company's earnings release but derivable from its disclosed figures. Oil sands operating costs ran approximately $11.25 per BOE at the midpoint of guidance, down from the prior midpoint of $12.00 per BOE. Western Canadian Select, the benchmark for Cenovus's heavy oil output, settled at $71.24 per barrel on Friday, July 31, per Oilprice.com. WTI crude closed at $84.67 per barrel on the same date. The WCS discount to WTI stood at approximately $13.43 per barrel, consistent with the Alberta Energy Regulator's 2026 outlook, which forecast the WCS-WTI differential averaging $12.00 per barrel for the year. July crosses one million barrels for the first time. Production in July 2026 is tracking above one million barrels of oil equivalent per day, the first time in Cenovus's history the company has crossed that threshold. McKenzie described the milestone as "a testament to the quality of our people and assets as well as our resilient culture." Full-year upstream production guidance was raised to a range of 970,000 to 1,010,000 BOE per day. Capital spending guidance of $5.0 to $5.3 billion CAD was left unchanged, meaning the volume gains reflect operational efficiency and debottlenecking rather than additional capital deployment. Free funds flow for the quarter reached $3.79 billion CAD. Net debt fell by $2.7 billion in Q2 to a total of $5.4 billion. Downstream and shareholder returns. U.S. and Canadian refineries processed 451,500 barrels per day of crude at 95% utilization during Q2. Most of the downstream refining capacity was added through the Husky Energy acquisition. The U.S. refining adjusted market capture rate reached 67% in the quarter. Cenovus returned $1.4 billion to shareholders in Q2, including $1.0 billion in share repurchases covering 26.2 million shares. The company declared a quarterly dividend of $0.22 per share. Shareholder return targets for excess free funds flow were raised to 75% of excess free funds flow for the remainder of 2026. Sources and methodology. Oil Authority synthesis: Computed adjusted funds flow per BOE ($56.46 CAD) using disclosed quarterly production and funds flow data. Mapped Cenovus's parent-subsidiary asset history: ConocoPhillips Canadian assets acquired in 2017, Husky Energy acquired January 2021, MEG Energy's Christina Lake North acquired recently. Cross-referenced WCS-WTI differential against AER ST98 forecast. Published by Oil Authority, edited by Adam Humphreys Submit a correction. Spotted a factual error? Free account required to submit a correction.
Cenovus Energy (NYSE:CVE) issues earnings results. July 31, 2026 Key points. * Strong quarterly results: Cenovus Energy reported EPS of $1.11, matching estimates and rising from $0.45 a year earlier, while revenue increased 47.9% year over year to $14.59 billion. * Production and financial outlook improved: The company raised 2026 production guidance to 970,000-1,010,000 barrels of oil equivalent per day, reduced net debt by C$2.7 billion to C$5.4 billion and plans to direct more excess cash toward shareholder returns. * Shareholder returns continued: Cenovus declared a quarterly dividend of $0.22 per share, equivalent to $0.88 annually and a yield of roughly 2.9%; the stock rose 4.4% following the results. * Interested in Cenovus Energy? Here are five stocks we like better. Cenovus Energy (NYSE:CVE - Get Free Report) TSE: CVE posted its earnings results on Wednesday. The oil and gas company reported $1.11 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.11, Zacks reports. Cenovus Energy had a return on equity of 15.29% and a net margin of 9.53%.The firm had revenue of $14.59 billion during the quarter, compared to analysts' expectations of $11.87 billion. During the same period in the previous year, the firm earned $0.45 earnings per share. The company's revenue was up 47.9% on a year-over-year basis. Here are the key takeaways from Cenovus Energy's conference call: * Record financial performance: Cenovus reported all-time highs of approximately CAD 5.9 billion in operating margin and CAD 5 billion in adjusted funds flow, supported by higher oil prices, stronger oil sands production, and favorable refining conditions. * Production guidance increased: Full-year 2026 production guidance was raised to 970,000-1,010,000 BOE per day, with Christina Lake, Foster Creek, Sunrise, and Lloydminster assets performing ahead of expectations. July production was on track to exceed 1 million BOE per day for the first time. * Lower costs and strong execution: The Foster Creek sulfur recovery project was completed ahead of schedule and on budget, while turnaround optimization is expected to preserve more than 1.2 million barrels versus the original 2026 budget and reduce operating costs. * Balance sheet and shareholder returns strengthened: Net debt fell by CAD 2.7 billion to CAD 5.4 billion after repaying the remaining CAD 2.2 billion MEG acquisition term loan. With debt below CAD 6 billion, Cenovus plans to target 75% of excess free funds flow for shareholder returns over time, alongside CAD 1 billion of second-quarter share repurchases and CAD 411 million of dividends. * Growth and execution items remain: First oil at West White Rose is expected in late Q3, while the Lima refinery turnaround is planned for September or October and could temporarily affect downstream output. Management also highlighted longer-term opportunities from solvent-assisted SAGD, expanded Sunrise development, and a more supportive Canadian oil sands policy framework. Cenovus Energy stock up 4.4%. NYSE:CVE traded up $1.27 during trading hours on Thursday, reaching $30.34. 8,337,376 shares of the stock were exchanged, compared to its average volume of 11,527,339. Cenovus Energy has a twelve month low of $14.48 and a twelve month high of $32.07. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.57 and a quick ratio of 1.00. The firm has a 50 day moving average of $27.28 and a 200 day moving average of $25.08. The stock has a market cap of $56.45 billion, a PE ratio of 16.67 and a beta of 0.34. Cenovus Energy announces dividend. The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.88 annualized dividend and a yield of 2.9%. Cenovus Energy's payout ratio is presently 35.16%. Analysts set new price targets. CVE has been the topic of several recent analyst reports. Wall Street Zen cut Cenovus Energy from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. Raymond James Financial cut Cenovus Energy from a "strong-buy" rating to an "outperform" rating in a research note on Wednesday, May 6th. Zacks Research lowered shares of Cenovus Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 16th. Lake Street Capital set a $36.00 price target on shares of Cenovus Energy in a report on Wednesday, May 13th. Finally, Scotiabank reissued an "outperform" rating on shares of Cenovus Energy in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.25. Discover more Stock Screener Tool Company Earnings Institutional trading of Cenovus Energy. A number of institutional investors have recently made changes to their positions in CVE. FIL Ltd grew its position in Cenovus Energy by 40.0% in the fourth quarter. FIL Ltd now owns 38,533,059 shares of the oil and gas company's stock valued at $651,880,000 after purchasing an additional 11,019,212 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Cenovus Energy by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,018,995 shares of the oil and gas company's stock worth $304,894,000 after buying an additional 855,618 shares in the last quarter. Smead Capital Management Inc. boosted its stake in shares of Cenovus Energy by 13.3% during the 2nd quarter. Smead Capital Management Inc. now owns 17,552,075 shares of the oil and gas company's stock worth $238,999,000 after buying an additional 2,056,163 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Cenovus Energy by 28.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 15,612,441 shares of the oil and gas company's stock worth $264,676,000 after buying an additional 3,468,398 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Cenovus Energy by 322.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 15,521,050 shares of the oil and gas company's stock worth $211,338,000 after buying an additional 11,849,355 shares during the last quarter. Institutional investors own 51.19% of the company's stock. Here are the key news stories impacting Cenovus Energy this week: * Positive Sentiment: Strong Q2 financial performance: Cenovus reported adjusted funds flow of approximately C$5.0 billion and free funds flow of C$3.8 billion. Revenue rose 47.9% year over year to C$14.59 billion, while EPS of $1.11 matched estimates and more than tripled from the prior-year quarter. Cenovus announces second-quarter 2026 results * Positive Sentiment: Production outlook raised: Record oil-sands output and progress on major projects led Cenovus to increase its 2026 production guidance. Upstream production reached 970.4 thousand barrels of oil equivalent per day, putting the company near the one-million-barrel-per-day producer group. CVE Q2 Earnings Call Highlights Production Growth * Positive Sentiment: Analyst confidence improved: Royal Bank of Canada raised its price target from $47 to $51 and maintained an "outperform" rating, citing potential upside from Cenovus's earnings strength and operating momentum. * Positive Sentiment: Pipeline and infrastructure tailwinds: Cenovus's CEO said new West Coast pipeline capacity and the Ottawa-Alberta agreement could support greater oil-sands growth, improve market access and reduce transportation constraints. Cenovus CEO Sees New West Coast Pipelines Fueling Oil Growth * Neutral Sentiment: Shareholder return: Cenovus declared a quarterly dividend of $0.22 per share, representing an annualized yield of roughly 3%. The payout supports the stock's income appeal but does not materially change near-term earnings expectations. * Negative Sentiment: Commodity-price risk remains: Recent cash-flow strength depends heavily on elevated oil prices, refining margins and tight refined-product supply. A decline in commodity prices or weaker margins could challenge the company's earnings momentum and the market's undervaluation thesis. Cenovus Energy company profile. Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets. The company was originally formed as a spin-off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Cenovus Energy, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cenovus Energy wasn't on the list. While Cenovus Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
Cenovus Energy profit climbs in Q2 as higher oil prices boost revenue. | / | Jonathon Brown, The Market Link 0 Comments| 5 hours ago | + Favorites * Cenovus (TSX:CVE) reported second-quarter revenue of C$17.4 billion and net earnings of C$2.9 billion, boosted by higher oil prices and strong operational performance * The company generated C$5.0 billion in adjusted funds flow and C$3.8 billion in free funds flow, while returning C$1.4 billion to shareholders through buybacks and dividends * Cenovus raised its 2026 production guidance after delivering record oil sands output and maintaining a 95 per cent downstream crude utilization rate * Cenovus Energy stock (TSX:CVE) opened trading at C$41.28 Canadian oil and gas producer Cenovus Energy (TSX:CVE) reported sharply higher second-quarter revenue and profit, driven by stronger crude prices, robust oil sands performance and solid refining operations. The company said total revenue rose to C$17.4 billion in the second quarter of 2026, up from C$12.4 billion in the first quarter. Net earnings increased to C$2.9 billion, compared with C$1.6 billion in the previous quarter. Cenovus generated approximately C$5.0 billion in adjusted funds flow and C$3.8 billion in free funds flow during the quarter, benefiting from higher commodity prices and strong operational execution across its upstream and downstream businesses. This article is a journalistic opinion piece that has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice. Via the company's news release, "strong performance across the Oil Sands assets and optimization of turnaround activity" prompted the company to raise its full-year production outlook and lower operating cost guidance for several business segments. The company reported an operating margin of C$5.9 billion, up from C$4.4 billion in the first quarter. Upstream operating margin increased to C$4.9 billion from C$3.7 billion, while downstream operating margin rose to C$953 million from C$734 million. Cenovus produced 970,400 barrels of oil equivalent per day (BOE/d) during the quarter and processed 451,500 barrels of crude per day across its refining network, representing an overall crude unit utilization rate of 95 per cent. The company highlighted record quarterly oil sands production of 786,400 BOE/d, including record output at both its Christina Lake and Sunrise operations. Production at Christina Lake averaged 372,100 barrels per day, up from 358,900 barrels per day in the previous quarter, aided by strong well performance and redevelopment work. Sunrise production climbed to 65,700 barrels per day from 59,400 barrels per day, while Foster Creek production declined slightly to 214,500 barrels per day following an unplanned disruption in late May. Despite lower production in some conventional and offshore assets due to maintenance activities, Cenovus said it remains on track to exceed one million BOE/d of upstream production during July, a milestone for the company. In refining, total crude throughput increased to 451,500 barrels per day. U.S. refining throughput rose to 349,800 barrels per day, with a utilization rate of 96 per cent, while Canadian refining throughput averaged 101,700 barrels per day following planned turnaround work at the Lloydminster Upgrader. U.S. refining revenue increased to C$6.5 billion from C$4.2 billion in the previous quarter, reflecting stronger refined-product prices. Operating margin in the U.S. refining segment reached C$771 million, including a C$152 million inventory holding gain. The company also continued strengthening its balance sheet. Long-term debt stood at C$8.6 billion as of June 30, down after Cenovus fully repaid and cancelled the remaining C$2.2 billion term loan used to help finance its acquisition of MEG Energy Corp. Net debt fell to C$5.4 billion, down C$2.7 billion from the prior quarter, supported by strong earnings and improved working capital. During the quarter, Cenovus reached its interim net debt target of C$6 billion, triggering a framework under which it intends to return approximately 75 per cent of excess free funds flow to shareholders while net debt remains between C$6 billion and C$4 billion. Shareholder returns totalled C$1.4 billion in the second quarter, including C$1.0 billion spent repurchasing 26.2 million common shares and C$0.4 billion paid through dividends. The board declared a quarterly dividend of C$0.22 per common share, payable Sept. 29, 2026, to shareholders of record on Sept. 15. Looking ahead, Cenovus raised its 2026 upstream production guidance by 25,000 BOE/d to a range of 970,000 to 1,010,000 BOE/d. The company also reduced operating cost forecasts for its oil sands, conventional and Asia Pacific operations after stronger-than-expected performance in the first half of the year. Cenovus maintained its capital spending forecast of C$5.0 billion to C$5.3 billion and said key growth projects, including the Christina Lake North expansion, the Foster Creek sulphur recovery project and the West White Rose development, remain on schedule. Cenovus Energy Inc. has oil and natural gas production operations in Canada and the Asia Pacific region and upgrading, refining and marketing operations in Canada and the United States. Cenovus Energy stock (TSX:CVE) opened trading around 5 per cent higher at C$41.28 and has risen more than 75 per cent since the year began. Join the discussion: Find out what the Bullboards are saying about Cenovus Energy, and check out Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
Aker Solutions wins $46m-$138m service deal from Cenovus Energy. June 26, 2026 at 06:09 AM UTC - By FilingReader AI Aker Solutions has secured a five-year contract with Cenovus Energy for assets at the White Rose field, located offshore Newfoundland and Labrador. The company classifies the deal as "sizeable," valued between NOK 0.5 billion and NOK 1.5 billion. The scope includes engineering, maintenance, and operations support for the SeaRose floating production storage and offloading vessel. Work also covers the new West White Rose platform, which is scheduled to begin production in 2026. The contract will be recorded as order intake for the second quarter of 2026 within the company's life cycle business segment. Aker Solutions has supported operations at the White Rose field since 2005. This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact [email protected] Primary source document. OSL:AKSO - Oslo Stock Exchange Get instant email alerts when Aker Solutions ASA publishes news Free account required - Unsubscribe anytime Stock price. +28.89% 1Y Filing activity timeline. June 25, 2026 This News Filings (90 days): 7 documents Most recent: Jun 25