Cenovus Energy is set to acquire MEG Energy in a CAN$7.9 billion deal, combining two SAGD oil sands producers aimed at ...

Cenovus Energy is buying rival MEG Energy, the latest consolidation move in Canada’s oil patch as producers bulk up in the country’s vast oil-sands region.

The Alberta oil sands have the third-largest reserves of oil in the world behind Saudi Arabia and Venezuela. Its workers largely live in Fort McMurray where some neighborhoods have been destroyed.

"Spot", one of two robotic dogs employed by Imperial Oil to conduct routine maintenance and equipment checks at its Cold Lake oil sands site, stands on the ground near Cold Lake, Alberta, Canada ...

Chris Jones, chief operating officer of Albian Sands Energy Inc., gestures as he describes the company’s oil sands project in Ft. McMurray, Alberta, in August 2005.

At least 233,000 barrels per day of oil sands production, 9 percent of Alberta's total oil sands output, have been suspended because of the fire risk, though none of the projects have been damaged.

Oil sands output will grow by about 500,000 barrels a day to 3.8 million barrels a day by 2030, according to S&P Global Commodity Insights.

CVE and Indigenous partners are in talks for a joint bid on MEG Energy, challenging Strathcona's hostile takeover attempt.

Cenovus Energy Inc. is in discussions with a coalition of Indigenous groups in Canada to jointly acquire MEG Energy Corp., an ...

Canada's Cenovus Energy announced on Friday it will acquire MEG Energy in a C$7.9 billion ($5.68 billion) cash-and-stock deal ...