Cenovus Energy Q4 Earnings Call Highlights

McKenzie said 2025 upstream production averaged 834,000 barrels of oil equivalent per day (BOE/d), the highest annual level in the company’s history and up 3% from 2024 excluding the impact of the MEG acquisition. Cenovus also reduced total upstream non-fuel operating costs by about 4% year over year. In the downstream, the company’s refineries averaged 95% combined utilization across Canadian and U.S. segments, including a 59-day turnaround at Toledo that was completed 11 days ahead of schedule. Cenovus re ...