Cenovus Energy(CVE) - 2025 Q2 - Quarterly Report
Cenovus Energy(US:CVE)2025-07-31 16:23Exhibit 99.2 Cenovus Energy Inc. Management's Discussion and Analysis (unaudited) For the Periods Ended June 30, 2025 (Canadian Dollars) MANAGEMENT'S DISCUSSION AND ANALYSIS For the periods ended June 30, 2025 TABLE OF CONTENTS | OVERVIEW OF CENOVUS | 3 | | --- | --- | | QUARTERLY RESULTS OVERVIEW | 4 | | OPERATING AND FINANCIAL RESULTS | 6 | | COMMODITY PRICES UNDERLYING OUR FINANCIAL RESULTS | 11 | | OUTLOOK | 14 | | REPORTABLE SEGMENTS | 17 | | UPSTREAM | 17 | | OIL SANDS | 17 | | CONVENTIONAL | 22 | | O ...