Cenovus Energy(TSX:CVE)

Cenovus is a Canadian-based integrated energy company headquartered in Calgary, focused on maximizing value through safe, responsible, and cost-efficient asset development.

Investor website: https://www.cenovus.com/

About

Cenovus is a Canadian-based integrated energy company headquartered in Calgary, focused on maximizing value through safe, responsible, and cost-efficient asset development. The company operates in Canada, the United States, and the Asia Pacific region, with activities including oil sands projects, crude oil production, and natural gas operations. Cenovus also has downstream operations in upgrading, refining, and marketing. The company trades under the symbol CVE on the Toronto and New York stock exchanges.

Verified company data

Cash position
NA
Shares outstanding
1,910 M
Fully diluted shares
NA
Mineral resource
Operations at Cenovus We are an integrated energy company with 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. We work across the full oil and natural gas value chain in exploration, production, refining, transportation and retail. We are committed to maximizing value by developing our assets in a safe, responsible and cost-efficient manner. Conventional oil and natural gas Cenovus is a significant natural gas producer in the Western Canadian Sedimentary Basin, holding a portfolio of more than 3 million net acres across Alberta and British Columbia, including assets in the Deep Basin, Montney and Rainbow Lake. Our land position is complemented by owned and operated processing facilities. Deep Basin Our extensive land position and operations in the Deep Basin extend from Elmworth to the Clearwater area. Opportunities in these regions include multiple subsurface zones that are developed using advanced horizontal drilling and multistage hydraulic fracturing techniques. The Northern Corridor, which includes the Elmworth, Wapiti and Kakwa assets, is located in northwest Alberta. This region has a significant resource base and contains the Cenovus-operated Elmworth gas plant, one of the largest natural gas facilities in Alberta. We also have working interests in the Kakwa, Wapiti and Berland natural gas processing facilities in the region. In the Edson area in west-central Alberta, Cenovus owns 100% of the Peco and Wolf gas plants. These facilities are complemented by a long-term processing agreement and operatorship of the Corser plant. Our development programs in the area leverage Cenovus-operated gathering and processing infrastructure. The Clearwater area, also in west-central Alberta, includes the Cenovus-operated Sand Creek and Alder Flats facilities, which process the majority of our liquids rich production. Montney The Montney Formation is one of North America's most significant gas resources. We have a dry gas position in British Columbia and liquids-rich land holdings in Alberta, complementing our Deep Basin position. Rainbow Lake Rainbow Lake is located approximately 900 kilometres northwest of Edmonton, Alberta and consists of two distinct resource areas, Rainbow Lake and Bivouac, with two natural gas plants and multiple field facilities. Cenovus also owns and operates a 90-megawatt natural gas-fired cogeneration facility adjacent to our Rainbow Lake processing plant. Oil sands & heavy oil Our oil sands assets in northern Alberta are the cornerstone of our Upstream production business. We’ve been operating in the oil sands for more than two decades, using a drilling method called steam-assisted gravity drainage – or SAGD for short. Our oil sands and heavy oil operations Cenovus launched the oil sands’ first commercial SAGD project in 2001 and has been a pioneer in the advancement of SAGD technology. We have no mining assets, tailings ponds or megaprojects. We have three producing oil sands projects in Alberta: Christina Lake, Foster Creek and Sunrise, as well as thermal and heavy oil operations at Lloydminster in Saskatchewan. Christina Lake Our 100% owned Christina Lake project is located approximately 150 kilometres southeast of Fort McMurray, Alberta. Construction began in 2000 with first production two years later. Today, Christina Lake is one of the largest and most efficient SAGD project in the industry as it has a low steam to oil ratio (SOR), which means it uses less water and natural gas and creates fewer greenhouse gas emissions to produce a barrel of oil than other SAGD facilities of the same size. Christina Lake North Located about 150 kilometres south of Fort McMurray in Alberta’s Athabasca region, the Christina Lake North project began producing in 2008. A top-tier SAGD resource, with an SOR comparable with the Christina Lake project, it is one of the most efficient SAGD assets in the industry. The site uses cogeneration alongside steam boilers to produce both steam and electricity and excess power generated at Christina Lake North is sold to the Alberta power grid. Foster Creek Our 100% owned Foster Creek project began operating as a pilot in 1997 and has been operating commercially since 2001. It was the first commercial oil sands project to use SAGD technology. It is located about 330 kilometres northeast of Edmonton on the Cold Lake Air Weapons Range — an active Canadian military base. We’ve developed many technology innovations at Foster Creek which have led to improved efficiency and environmental performance at all of our oil sands operations. Sunrise The Sunrise project is 100% owned and operated by Cenovus. Sunrise is about 60 kilometres northeast of Fort McMurray, Alberta and its reservoir sits roughly 200 metres below the surface. The facility began operating in 2015. Lloydminster Thermal Our 100% owned and operated Lloydminster thermal facilities include 12 producing assets using SAGD technology. The production is supported by a network of facilities and pipelines in the region that transport oil from our field locations to our Lloydminster Upgrader, asphalt refinery and other Cenovus assets. Conventional Heavy Oil We use conventional heavy oil production and Enhanced Oil Recovery (EOR) production technologies in our heavy oil operations in Saskatchewan and Alberta. How does steam-assisted gravity drainage (SAGD) work? Steam-assisted gravity drainage or SAGD (pronounced sag-DEE) is a relatively new technology that was developed in Alberta in the 1970s and commercialized in the 1990s to access oil sands deposits that are too deep to mine. SAGD uses advanced horizontal drilling techniques, combined with steam injection technology, to access oil sands reservoirs that can be hundreds of metres deep. Our Foster Creek site was the first commercial SAGD project in the oil sands and Cenovus has been a pioneer in the SAGD industry. Using SAGD technology, we can access large underground oil sands reservoirs with a relatively small surface footprint. We currently have three producing SAGD projects in the oil sands – Christina Lake, Foster Creek and Sunrise – as well as 12 SAGD sites in our Lloydminster thermal operations. Offshore We have operations and exploration prospects offshore in the Asia Pacific region and Newfoundland and Labrador. Our focus in these regions is primarily on developing commercial natural gas, natural gas liquids and oil resources. Our offshore operations China: Liwan Gas Project Our Liwan Gas Project was the first deepwater gas project offshore China and delivered first production in 2014. We hold a 49% interest in the Liwan 3-1 and Liuhua 34-2 fields, which share a subsea production system, subsea pipeline transportation and onshore gas processing infrastructure. We also hold a 75% interest in the Liuhua 29-1 field, which achieved first production in November 2020. We operate the subsea facilities – including the subsea production system and the subsea pipeline transportation system. Our project partner, CNOOC Limited, operates the shallow water facilities – including the platform, subsea pipeline to shore and the onshore Gaolan Gas Terminal. This terminal extracts both condensates and liquids, and then compresses and moves the gas to commercial markets in mainland China. China: Pearl River Mouth Basin We have a production sharing contract for an exploration block in the Pearl River Mouth Basin offshore China, where commercial development plans are being progressed after the successful drilling and testing of an exploration well. Indonesia We are producing and developing gas fields in the Madura Strait PSC, offshore East Java, Indonesia. These shallow-water fields include the producing, BD, MDA and MBH fields, and development of the MAC and MDK fields. We hold a 40% interest in these projects, which are being developed in partnership with operator CNOOC Limited and a subsidiary of Samudra Energy Limited. Natural gas discoveries at the MBF and MAX fields in the PSC are currently being evaluated for commercial development. Atlantic Canada We have been working offshore Newfoundland and Labrador for over 40 years. We operate in the Jeanne d’Arc Basin, where we are the majority owner and operator of the White Rose field. This includes our North Amethyst, West White Rose and South White Rose extensions. All our producing fields use the SeaRose floating production, storage and offloading (FPSO) vessel. We are also joint venture partners in the Terra Nova field (operated by Suncor). Upgrading & refining All oil needs to be refined so it can be made into usable products. At our upgrader and refineries, we take oil and turn it into products like gasoline, diesel and petrochemicals that are then used in the daily items we rely on – including asphalt, smartphones, laundry detergent, contact lenses and clothes. Our upgrading and refining operations Our upgrader and refineries, along with our Upstream production, help reduce the impact of price fluctuations in the oil market to Cenovus by allowing us to capture value from the very beginning with the production of oil through to the end with the creation of a wide range of finished products. This allows us to be a fully-integrated producer of higher value finished products and helps to reduce our risk and lessen the volatility in our business. Our operations Lloydminster Refinery Our asphalt refinery in Lloydminster, Alberta produces more than 30 different types and grades of road asphalt from heavy oil. These range from road oils used for dust control to highway-grade asphalt. The asphalt refinery also produces a condensate that is blended with heavy oil production and drilling fluids, a kerosene distillate and gas oil which is processed at the Lloydminster Upgrader into low-sulphur diesel and Husky Synthetic Blend. Did you know? This refinery is the largest producer of paving asphalt in Western Canada. Lloydminster Upgrader Our upgrader in Lloydminster, Saskatchewan was commissioned in 1992 and processes heavy oil from our Lloydminster thermal projects. The synthetic crude produced at this upgrader is also used in the production of gasoline and diesel fuels in refineries in Canada and the U.S. Lima Refinery Our Lima Refinery in the U.S. Midwest produces low-sulphur gasoline, gasoline blend stocks, ultra-low sulphur diesel, jet fuel, petrochemical feedstock and other byproducts. A crude oil flexibility project completed in 2019 increased heavy oil processing capacity at the refinery providing the flexibility to switch between light and heavy crude oil feedstock. Our refined products are transported via pipelines and rail cars to primary markets in Ohio, Illinois, Indiana, Pennsylvania and southern Michigan. Superior Refinery Our Superior Refinery is located in Superior, Wisconsin in the U.S. Midwest and produces a full slate of products including asphalt, gasoline and diesel. The refinery processes light and heavy crude oil from North Dakota and Western Canada. Toledo Refinery Our refinery in Oregon, Ohio is adjacent to the City of Toledo. It has been operating for more than 100 years and can process up to 160,000 bbls/d, including 90,000 bbls/d of heavy oil. The refinery can produce 3.8 million gallons of gasoline, 1.3 million gallons of diesel fuel and 600,000 gallons of jet fuel daily. Value chain Our operations involve activities across the full value chain to develop, transport, produce and market crude oil and natural gas in Canada and internationally. Our physically integrated upstream and downstream operations help us mitigate the impact of volatility in the market by capturing value from production through to the sale of finished products, like gasoline, diesel, jet fuel, asphalt and lubricants. Step 1: Unlock and develop We undertake seismic and exploratory drilling programs to identify the value and location of reserves and to inform our business and development plans. We engage with our stakeholders and work to obtain regulatory approvals to responsibly develop and commission new facilities, well pads, wells and on-lease pipelines. We also plan for eventual abandonment and reclamation activities. Step 2: Production and operations We extract our products from a variety of assets and process and transport it, usually by pipeline, to a marketing hub or refinery. Once a project or asset has reached the end of its life, we remove equipment from the site and undertake reclamation and remediation activities. Step 3: Marketing and transportation Once we get the oil, natural gas and natural gas liquids (NGLs) safely out of the ground, it’s either transported to one of our refineries for further processing or sold to other refiners, large industrial users, wholesalers or commodity purchasers so it can be refined into usable end products. These buyers are located all around the world. We’re focused on finding new potential buyers, both in North America and around the world. With a variety of safe and economically viable transportation options, we can reach a broader buyer base and secure the highest sale price for our products. Pipelines Currently, we move our products on several pipelines across the U.S. and Canada. Pipelines are a safe, economic and environmentally responsible way to transport our products. We are supportive of all pipeline proposals that would provide additional access to markets. We’re a committed shipper on the approved Trans Mountain Expansion Project and are a 35% owner, and the operator, of Husky Midstream General Partnership, which owns approximately 2,200 kilometres of pipelines, storage terminals and other infrastructure. Rail In addition to pipelines, we also transport our oil by rail. Rail transportation allows us to reach customers and refineries located in areas that aren’t connected to a major pipeline. We own the Bruderheim Energy Terminal, a crude-by-rail loading facility near Edmonton, Alberta. A third-party service provider manages the rail terminal with the same rigour and attention to safety, environmental performance and operational excellence that we demonstrate in our oil and natural gas production operations. Step 4: Upgrading & refining Upgrading and refining facilities convert crude oil into usable products such as gasoline to fuel our vehicles, and petroleum byproducts that become the building blocks for the items we rely on every day such as asphalt, smartphones, laundry detergent, contact lenses and clothes. Step 5: End use and retail Buyers of our refined products have operations across North America and around the world. This includes end-use fuel products such as gasoline, diesel or jet fuel, as well as products made from petrochemicals such as plastics. Transportation fuels What you need, when you need it. Fuel your business with confidence. Cenovus has more than 80 years of experience providing high-quality services and products to customers. Our integrated operations span Canada and the U.S., ensuring a steady supply of fuel for various industries and wholesale, commercial and retail businesses. Comprehensive terminal network Our experienced network of more than 50 terminals spans regional and waterborne markets providing convenient access to our products from the Midwest to Northeast U.S Diversified product mix Discover our diverse fuel lineup, ranging from gasoline and diesel to jet and marine fuel. With our extended sales team, we seamlessly connect customers to over 50 petroleum products. Fueling tomorrow, today With expertise in fuel refining, our products are crafted to fuel performance. From mining to agriculture, our fuel powers your heavy machinery, ensuring peak performance for your operations. Keeping your business rolling Our extensive network of diesel terminals is strategically positioned across Western Canada providing convenient access for pickup or delivery to suit your business needs. Asphalt Cenovus Asphalt's holistic approach starts with sourcing top-grade heavy crude oil from our heavy oil fields that produces some of the softest, straight-run grade of asphalt in North America. This travels through our pipelines to be processed at our specialized refining facilities into different asphalt products. Cenovus’s commitment to quality asphalt production ensures a steady and reliable supply to every project. We follow through with on-time delivery via our efficient transportation network. Our Asphalt “A-team” is better than ever. Cenovus Asphalt has been advancing road science for more than 80 years. Whether you’re working with our dedicated researchers, quality control specialists or responsive sales team, we are committed to building better roads and strengthening relationships. Analyst coverage The following investment firms cover the securities of Cenovus Energy. This list of investment firms is being provided solely for your information and convenience and does not constitute an endorsement by Cenovus Energy of any information or reports provided by any of the investment firms listed below. Please refer to the Legal Notice on this website. Investment firms ATB Capital Markets – Patrick O’Rourke BMO Capital Markets – Randy Ollenberger CIBC World Markets – Dennis Fong Desjardins Capital Markets – Chris MacCulloch Goldman Sachs – Neil Mehta Jefferies – Lloyd Byrne J.P. Morgan – Arun Jayaram Morgan Stanley – Devin McDermott National Bank Financial – Travis Wood Peters & Co. – Tyler Reardon Raymond James Ltd. – Michael Barth RBC Capital Markets – Greg Pardy Scotiabank – Kevin Fisk TD Cowen – Menno Hulshof Tudor, Pickering, Holt & Co. – Jeoffrey Lambujon UBS – Manav Gupta Veritas – Darryl McCoubrey Cenovus was created through the division of Encana Corporation into two highly focused and independent publicly traded energy companies on December 1, 2009. For a full description of the transaction, please view the Information Circular (October 2009). General information Where is Cenovus common equity listed and what is the ticker symbol? Cenovus common shares (ticker symbol: CVE) are listed on both the Toronto Stock Exchange and the New York Stock Exchange. Where is Cenovus preferred equity listed and what is the ticker symbol? Cenovus cumulative redeemable preferred shares series 1 and 2 are listed on the Toronto Stock Exchange under the symbols CVE.PR.A and CVE.PR.B, respectively. Does Cenovus have a direct share purchase plan? No. All purchases or sales of Cenovus securities must be done through a brokerage service provider. How can I purchase Cenovus shares? To purchase Cenovus common shares, preferred shares or warrants, you must do so through a brokerage service provider. Cenovus cannot provide investment advice or act as a financial advisor. Does Cenovus pay a dividend? Yes, Cenovus has established a quarterly dividend payable to common shareholders. The declaration of dividends is at the sole discretion of the Board of Directors. For a list of dividends declared, please view the Dividend table. Does Cenovus have a dividend reinvestment plan (DRIP)? Yes. Effective April 21, 2010, Cenovus established a DRIP for its common shares. For further information, please view our DRIP, contact our transfer and DRIP agent, Computershare Investor Services Inc. at 1-866-332-8898 or visit the Cenovus Investor Centre. Who should I contact if I have not received dividend payments? If you are a registered shareholder, please contact our registrar and transfer and DRIP agent, Computershare Investor Services Inc. at 1-866-332-8898, or 514-982-8717 (if outside North America) to assist you. If you are a beneficial shareholder, please contact your broker for assistance. Is the DRIP available to all shareholders? Yes, Canadian, U.S. and international shareholders are eligible to enroll in the DRIP. Once enrolled, participation is automatic. On January 1, 2021, Cenovus acquired Husky Energy Inc. Husky shareholders received 0.7845 of a Cenovus share plus 0.0651 of a Cenovus share purchase warrant in exchange for each Husky common share. Read more about the Cenovus and Husky transaction. I was a Husky shareholder who received warrants of Cenovus at the time of the merger. What are these? How do I exercise the warrants? When do they expire? Pursuant to the transaction agreement, Husky common shareholders received 0.7845 of a Cenovus common share and 0.0651 of a Cenovus common share purchase warrant in exchange for each Husky common share. Each whole warrant entitles the holder to acquire one Cenovus common share until 4:30 pm (Calgary time) on January 1, 2026 at an exercise price of CAD$6.54 per share. It is five years from the date the transaction closed. The Cenovus warrants have been listed on the Toronto and New York exchanges under the ticker symbols (TSX: CVE WT) and (NYSE: CVE WS). You can trade or exercise your warrants any time between now and January 1, 2026 through your brokerage. Please visit the transaction proxy circular here for more information. What is my adjusted cost base? Former HSE common shareholders should consult their own tax advisors regarding the method for determining the ACB allocation that is appropriate for their particular circumstances for Canadian income tax purposes. The estimates of fair market value (FMV) information and the adjusted cost base (ACB) allocation of such FMV estimates between CVE Common Shares and CVE Warrants below are not binding on the Canada Revenue Agency, CVE/HSE or any shareholder. However, it is recommended that the FMV allocation between CVE Common Shares and CVE Warrants reported by former Husky common shareholders for Canadian income tax purposes be consistent with the allocation estimated by Cenovus. Effective as of January 1, 2021, each former HSE common shareholder received, in respect of each HSE Common share held, 0.7845 of a CVE Common Share and 0.0651 of a CVE Warrant. 788.5 million CVE Common Shares and 65.4 million CVE Warrants were issued to HSE common shareholders and CVE acquired 1,005 million issued and outstanding HSE Common Shares. Each whole CVE Warrant entitles the holder to acquire one CVE Common Share at any time up to January 1, 2026 at an exercise price of C$6.54. The following estimated FMV information may be useful for former HSE common shareholders in determining the allocation of a shareholder’s HSE Common Shares between Warrant Consideration Common Shares and Share Consideration Common Shares: Cenovus has estimated the total FMV of the CVE Common Shares issued in exchange for a portion of the HSE Common Shares that Cenovus acquired under the Arrangement to be approximately C$6.1 billion, based on the closing price of C$7.75 per CVE Common Share on the TSX on December 31, 2020; and Cenovus has estimated the FMV of the CVE Warrants issued in exchange for a portion of the HSE Common Shares that Cenovus acquired under the Arrangement to be approximately C$216 million (or approximately $3.30 per CVE Warrant). Based on the foregoing estimated FMV information, the relative portion of a shareholder’s HSE Common Shares that are considered Warrant Consideration Common Shares is estimated to be 3.42% of the shareholder’s HSE Common Shares, and the relative portion of such HSE Common Shares that are considered to be Share Consideration Common Shares is estimated to be 96.58% of the shareholder’s HSE Common Shares. Former HSE common shareholders must determine their ACB based on their records. Cenovus (including Husky) does not have the information necessary to determine the ACB of the HSE Common Shares which have been exchanged, as the ACB will be unique to each former HSE common shareholder’s particular circumstances. Former HSE shareholders who require assistance regarding the determination of the ACB of their HSE Common Shares should contact their tax advisor. For assistance obtaining records with respect to shareholdings, please contact your broker (if you are not a registered holder) or CVE/HSE’s transfer agent, Computershare - Telephone: toll-free North America: (866) 332-8898, outside North America: (514) 982-8717 (if you are a registered holder).
Projects
["West White Rose project\n\nCenovus is the operator and majority owner of the White Rose field and satellite extensions. The original White Rose field was developed using subsea technology, consisting of three drill centres tied back to a floating production, storage and offloading (FPSO) vessel. The West White Rose Project will access further resources to the west of the field, using a fixed drilling rig tied back to the existing SeaRose FPSO.\n\n## Procurement Opportunities\n\nCenovus strongly supports providing opportunities to Canadian and, in particular, Newfoundland and Labrador companies on a commercially competitive basis. In accordance with the Framework Agreement between Cenovus, its co-venturers and the Province of Newfoundland and Labrador, Cenovus’s expectation is that successful bidders for contracts awarded as part of the West White Rose Project will work with the local labour force and maximize participation from the local marketplace.\n\nCenovus encourages the participation of members of designated groups (women, Aboriginal peoples, persons with disabilities, and members of visible minorities) and corporations or cooperatives owned by them, in the supply of goods and services.\n\nAll updates, bulletins, and/or clarification question responses pertaining to any Expression of Interest and/or Prequalification package will be posted to this [site](https://www.cenovus.com/Suppliers/Supply-and-service-opportunities).\n\nBelow are the current awarded Cenovus contracts for the West White Rose Project:\n\n| Services | Service provider |\n| Accommodation Support Vessel | [Floatel International Ltd](https://floatel.no/offshore-floatels) |\n| Topsides Installation | [Allseas](https://allseas.com/) |\n| CGS Tow-out and Installation | Aker Solutions (Marine) |\n| Operations and Maintenance | Parker Drilling |\n| Provision of Topsides Marine Transportation | Cosco |\n| Construction of Concrete Gravity Structure | [SNC Lavalin-Dragados-Pennecon](http://westwhiteroseproject.ca/) |\n| Onshore Commissioning and Offshore Hookup & Commissioning | Aker Solutions |\n| Fabrication and Construction of Topsides | Kiewit Offshore Services Ltd (Ingleside) |\n| Detailed Engineering Design Civil/Marine | Arup Canada |\n| Subsea Tie-back System | [TechnipFMC](http://westwhiterose.apps.technipfmc.com/) |\n| Dredging Services | Deme/Jan de Nul partnership |\n| Marine Rock Installation | Van Oord Canada |\n\n## Employment Opportunities\n\nAny employment opportunities available directly with Cenovus can be found on our [Careers page](https://www.cenovus.com/Careers), however the majority of individuals working on this project will be employed by main project contractors. These contractors will require a variety of technical and skilled trades professionals, and individuals are encouraged to contact the successful companies directly regarding employment opportunities.\n\nAs well, Cenovus occasionally sources contract labour through various agencies based on their ability to staff project positions on a temporary basis. Please contact local agencies that specialize in your area(s) of expertise to inquire about any positions they may be staffing at Cenovus.\n\nCenovus and its contractors respect diversity and embrace an inclusive culture. We value uniqueness and different perspectives as they play a critical role in our success. To achieve this, individuals are selected based on qualifications, merit, and abilities and we encourage applications from everyone including visible minorities, Aboriginal people, women, and persons with disabilities.\n\nConsistent with the Accord Acts, residents of Newfoundland and Labrador specifically and Canada generally, who are qualified, will be given first consideration for training and employment.\n\nMain contractors:\n\n- [SDP](http://westwhiteroseproject.ca/employment/)\n- [Parker Drilling](https://www.parkerdrilling.com/)\n- [TechnipFMC](https://www.technipfmc.com/en/careers/)\n\n## Diversity and Community Outreach\n\nCenovus is working to increase employment opportunities for members of designated groups (women, Aboriginal peoples, persons with disabilities and members of visible minorities). Cenovus also encourages corporations or cooperatives owned by designated groups in the supply of goods and services. You can learn more about Cenovus’s diversity plan for the West White Rose Project [here](https://huskyenergy.my.site.com/wwrp/servlet/servlet.FileDownload?file=0151L00000QOSEV).\n\nEach quarter, Cenovus reports on its progress for benefits and diversity, in submissions to the Canada-Newfoundland Offshore Petroleum Board. Those reports can be found [here](https://www.cenovus.com/Suppliers/Supply-and-service-opportunities).\n\nThe West White Rose Project public information office is located in the Placentia Mall, on Blockhouse Road in the Town of Placentia. The office is open Monday to Friday, from 10:00 am to 2:00 pm and is staffed with an Information Officer available to answer questions and provide information to the public on the project."]
Leadership
Jon McKenzie (President & Chief Executive Officer, Responsible for the strategic direction of the company and delivering strong financial, operational and sustainability performance.), Susan Anderson (Senior Vice-President, Legal, General Counsel & Corporate Secretary, Responsible for the legal function at Cenovus and oversees all the legal and corporate secretarial teams.), Andrew Dahlin (Executive Vice-President & Chief Operating Officer, Oversees the company’s day-to-day upstream business and capital project delivery.), Jeff Lawson (Executive Vice-President, Corporate Development & Chief Sustainability Officer, Responsible for contributing to Cenovus’s long-term strategy through acquisitions and divestitures, and ensures environmental, social and governance considerations are embedded into the company’s business plans.), Geoff Murray (Executive Vice-President, Commercial, Responsible for optimizing the value of Cenovus’s upstream production, associated midstream assets and contracts, and upstream commodity requirements.), Candace Newman (Senior Vice-President, People Services, Accountable for supporting Cenovus’s business activities and building organizational capability and capacity to deliver on the company’s strategy.), Kam Sandhar (Executive Vice-President & Chief Financial Officer, Oversees the company’s financial and risk activities, and ensures Cenovus has the financial resilience to support its strategy.), John Soini (Executive Vice-President, Upstream – Thermal & Atlantic Offshore, Leads the development and safe operations of Cenovus’s oil sands, conventional heavy oil assets, and the company’s assets offshore Atlantic Canada.), Eric Zimpfer (Head of Downstream, Manages the company’s downstream operations, including refining and upgrading assets in the U.S. and Canada.)

Verified data last updated: 2026-05-15

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