Cenovus Completes Acquisition of MEG Energy, Strengthening Its Oil Sands Portfolio

Cenovus Energy has completed its acquisition of MEG Energy, adding top-tier oil sands operations adjacent to its Christina Lake asset. The deal includes $3.44 bln in cash, 143.9 mln Cenovus shares, and approximately $800 mln in net debt assumed. The acquisition adds 110,000 barrels per day of low-cost, long-life oil sands production to Cenovus.