Cenovus to Acquire Athabasca Oil for $12 per Share
The agreed $5.7 billion cash-and-share deal was announced Oct. 5, 2026, and is subject to approvals.
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Cenovus agrees to buy Athabasca Oil for C$5.7 billion
Cenovus Energy agreed to acquire Athabasca Oil Corporation for an implied enterprise value of C$5.7 billion. The deal adds about 45,000 barrels of oil equivalent per day and is expected to close in December 2026, subject to approvals.
Cenovus Energy to buy Athabasca Oil for $5.7 billion
Cenovus Energy has agreed to acquire Athabasca Oil in a deal valued at $5.7 billion, including debt. Under the terms of the agreement, Cenovus will pay $12.00 per share for Athabasca. The acquisition is expected to close in December and is seen as a strategic fit for Cenovus's core oil sands business, adding approximat