Cenovus Snatches Up MEG Energy to Create New Oil Sands Titan

August 23, 2025-- Researched by Industrial Info Resources (Sugar Land, Texas)--Fee fi fo fum: One of the giants of Canada's oil sands region is about to get bigger. Cenovus Energy (Calgary, Alberta) announced last week it will buy MEG Energy Corporation (Calgary) in a C$7.9 billion ($5.68 billion) cash-and-stock deal that will grow Cenovus' already-prominent role in the region. The expanded company will boast more than 720,000 barrels per day (BBL/d) of output.Industrial Info is tracking more th