CALGARY — Cenovus Energy Inc. reported a third-quarter profit of $1.29 billion, up from $820 million a year ago, as it saw record production.
The company says its profit amounted to 72 cents per diluted share for the quarter ended Sept. 30, up from 42 cents per diluted share a year earlier.
Revenue was $13.20 billion, down from $13.82 billion in the same quarter last year.
Total upstream production for the quarter was 832,900 barrels of oil equivalent per day, up from 771,300 in the third quarter last year.
Downstream crude throughput totalled 710,700 barrels per day, up from 642,900 a year earlier.
“We delivered record volumes in both our upstream and downstream businesses this quarter, while maintaining our commitment to safe, reliable and cost-effective operations,” said chief executive Jon McKenzie in a news release Friday.
“Our major growth projects are all approaching completion and our downstream business is reaching its potential with consistently strong operating performance this quarter.”
The financial results came a day after a shareholder vote on the company’s proposed takeover of MEG Energy Corp. was delayed another week to Nov. 6 to address a last-minute “regulatory inquiry.”
MEG said in a news release late Thursday that about 83 per cent of its shares were expected to be voted in favour of the deal, surpassing the required two-thirds threshold. That doesn’t include the 14.2 per cent stake held by Strathcona Resources Ltd., the one-time rival bidder for MEG that dropped its pursuit and pledged its support.
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This report by The Canadian Press was first published Oct. 31, 2025.