By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Pipeline PulsePipeline Pulse
  • Home
  • Oil
  • Featured
  • Gas
  • Refining & Processing
  • Exploration
  • Pipelines
  • Drilling
Reading: Cenovus Beats Strathcona with $5.7B Deal to Purchase MEG
Share
Notification Show More
Latest News
Namibia’s Ambition to Turn into Oil Hotspot Examined by Wildcatter
Namibia’s Ambition to Turn into Oil Hotspot Examined by Wildcatter
Oil
Karoon Stories Improve in 2P Reserves in Brazil’s Bauna Challenge
Karoon Stories Improve in 2P Reserves in Brazil’s Bauna Challenge
Oil
Block Vitality Completes Preliminary Injection in Georgia CCS Undertaking
Block Vitality Completes Preliminary Injection in Georgia CCS Undertaking
Oil
MPLX Sells Rockies Midstream Fuel Property to Harvest for B
MPLX Sells Rockies Midstream Fuel Property to Harvest for $1B
Oil
Daenerys Discovery Is a Recreation Changer for Talos
Daenerys Discovery Is a Recreation Changer for Talos
Oil
Aa
Pipeline PulsePipeline Pulse
Aa
  • About Us
  • Advertising Solutions
  • Privacy
  • Terms of Service
  • Podcast
  • Home
  • Oil
  • Featured
  • Gas
  • Refining & Processing
  • Exploration
  • Pipelines
  • Drilling
Have an existing account? Sign In
Follow US
Copyright © MetaMedia™ Capital Inc, All right reserved.
Pipeline Pulse > Oil > Cenovus Beats Strathcona with $5.7B Deal to Purchase MEG
Oil

Cenovus Beats Strathcona with $5.7B Deal to Purchase MEG

Editorial Team
Last updated: 2025/08/22 at 12:06 PM
Editorial Team 1 week ago
Share
Cenovus Beats Strathcona with .7B Deal to Purchase MEG
SHARE


Cenovus Vitality Inc. agreed to purchase MEG Vitality Corp. in a deal valued at about C$7.9 billion ($5.7 billion) together with debt, beating a bid from Strathcona Assets Ltd. to spice up its place amongst Canada’s high oil producers.

The transaction, valuing MEG at C$27.25 a share, is break up three-quarters money and 1 / 4 inventory, Cenovus stated Friday in a press release. The corporate expects the acquisition to shut within the fourth quarter, topic to regulatory and shareholder approvals. 

The takeover unites two Calgary-based companies with important operations within the oil-sands area of northeastern Alberta. MEG’s Christina Lake challenge contains 200 sq. kilometers (77 sq. miles) of leases within the oil-rich space, and the corporate has regulatory approvals to supply round 210,000 barrels a day.

- Advertisement -
Ad image

A few of MEG’s buyers had panned the roughly C$6 billion hostile proposal from oil tycoon Adam Waterous’ Strathcona as too low. MEG, which pumps about 100,000 barrels of crude a day, is among the final corporations within the trade sufficiently small to be taken over however giant sufficient to vault the acquirer up within the ranks of the nation’s main producers.

Again in Could, Royal Financial institution of Canada analyst Greg Pardy stated Cenovus was “probably the most logical match” to take over MEG as a result of it additionally operates in Christina Lake, providing higher potential working synergies than different attainable patrons.

The third-largest Canadian crude producer by stock-market worth, Cenovus produced the equal of about 800,000 barrels of oil a day final 12 months – principally bitumen, together with pure fuel liquids and a few typical oil and fuel.


What do you assume? We’d love to listen to from you, be part of the dialog on the

Rigzone Vitality Community.

The Rigzone Vitality Community is a brand new social expertise created for you and all power professionals to Converse Up about our trade, share data, join with friends and trade insiders and have interaction in an expert group that may empower your profession in power.





Supply hyperlink

You Might Also Like

Namibia’s Ambition to Turn into Oil Hotspot Examined by Wildcatter

Karoon Stories Improve in 2P Reserves in Brazil’s Bauna Challenge

Block Vitality Completes Preliminary Injection in Georgia CCS Undertaking

MPLX Sells Rockies Midstream Fuel Property to Harvest for $1B

Daenerys Discovery Is a Recreation Changer for Talos

Editorial Team August 22, 2025
Share this Article
Facebook Twitter Email Print
Previous Article Ukrainian Suspect in Nord Stream Sabotage Nabbed in Italy Ukrainian Suspect in Nord Stream Sabotage Nabbed in Italy
Next Article Woodside Boosts Manufacturing in First Half Woodside Boosts Manufacturing in First Half
about us

Pipeline Pulse magazine is a preeminent digital publication in the petroleum industry, with a strong presence in the Middle East. Our esteemed digital publication is dedicated to providing cutting-edge insights on the international oil and gas industry, offering critical analysis of pressing issues and events, along with practical technology for designing, operating, and maintaining oil and gas operations.

Topics

  • Oil
  • Gas
  • Refining & Processing
  • Featured
  • Pipelines
  • Exploration
  • Drilling

Quick Links

  • About Us
  • Advertising Solutions
  • Privacy
  • Terms of Service
  • Podcast

Find Us on Socials

Copyright © Pipeline Pulse™ , All right reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Loading
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?