.jpg)
7 hours ago
2
Article content
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.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
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.
Article content
Article content
Revenue was $13.20 billion, down from $13.82 billion in the same quarter last year.
Article content
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.
Article content
Article content
Downstream crude throughput totalled 710,700 barrels per day, up from 642,900 a year earlier.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
“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.
Article content
“Our major growth projects are all approaching completion and our downstream business is reaching its potential with consistently strong operating performance this quarter.”
Article content
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.”
Article content
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.
Article content
This report by The Canadian Press was first published Oct. 31, 2025.
Article content
Companies in this story: (TSX:CVE) (TSX:MEG) (TSX:SCR)
Article content
English (US)