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Cenovus Energy Mergers & Acquisitions

Cenovus Energy M&A Summary

Cenovus Energy has acquired 3 companies of its own, including 2 in the last 5 years.

Cenovus Energy’s largest acquisition to date was in 2025, when it acquired MEG Energy for $6.0B. Cenovus Energy has acquired in 1 US state, and 2 countries. The Company’s most targeted sectors include oil/gas exploration (100%).

M&A Summary

  • M&A Total Activity3
    • M&A Buy Activity3
  • Total Sectors Invested 1
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 1

Cenovus Energy, Inc.

500 Centre Street S.E.,
Calgary, Alberta T2P 0M5
Canada,
(403) 766-2000
www.cenovus.com

All (3) Buy (3) Sell (-)
Date Target Value
$mlns 		Transaction Type Acquirer Seller SRC
Link
2025-08-22 MEG Energy · Oil/Gas Exploration
Calgary, Alberta · www.megenergy.com

MEG Energy is an exploration and production company focused on developing oil sands in the Athabasca region of northern Alberta, Canada. MEG Energy is based in Calgary, Alberta.

Revenue (mlns) 5,740 CAD
EBITDA (mlns) 1,260 CAD
6,005
6.3x EBITDA
1.4x REVENUE 		Add-on Acquisition

Cenovus Energy, Inc.
Advisors: CIBC Capital Markets , Goldman Sachs , McCarthy Tétrault , Paul, Weiss, Rifkind, Wharton & Garrison

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