Cenovus expects to top 1 million barrels a day after MEG deal
The Calgary-based energy company raised its 2026 outlook, pointing to higher output and lower costs as it integrates its recent acquisition of MEG Energy.
Why it matters
Cenovus is one of Alberta's largest oil producers, and its output growth reflects continued consolidation in the province's oil sands sector.
Cenovus Energy Inc. says it now expects production to exceed one million barrels per day in 2026, an upward revision from its earlier forecast, as the Calgary company continues to absorb its acquisition of MEG Energy.
The company also said costs are tracking lower than previously projected, contributing to the improved outlook. Cenovus attributed the stronger numbers in part to the integration of MEG Energy's oil sands assets following the purchase.
No further financial or operational details were disclosed in the announcement.
Compiled by the Alberta Daily Desk — an AI-written summary of reporting from the credited sources below, produced and reviewed under our editorial policy.