Business
Cenovus announces 2026 capital budget and corporate guidance
CALGARY, Alberta, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its 2026 capital budget and corporate guidance...
About this update from Cenovus Energy Inc.
[{"type":"image","alt":"Cenovus Energy Inc.","displaySize":"","headline":null,"caption":"Cenovus Energy Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":237,"height":74,"url":"https://media.zenfs.com/en/globenewswire.com/60e1880530b4fc12d2018e1daa2013df"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/YhFXQ7J9QYEROAVN_eWl9w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEzMTtjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/60e1880530b4fc12d2018e1daa2013df","width":237,"height":74}},"lazy":false},{"type":"text","content":"CALGARY, Alberta, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its 2026 capital budget and corporate guidance.","length":158,"tagName":"p"},{"type":"text","content":"2026 guidance highlights:","length":25,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Capital investment of between $5.0 billion and $5.3 billion, including approximately $350 million of capitalized turnaround costs. Excluding turnaround costs, capital investment is expected to be between $4.7 billion and $5.0 billion, consistent with Cenovus’s planned reduction in growth investments relative to 2025.","length":318,"tagName":"p"}]},{"val":[{"type":"text","content":"Upstream production of between 945,000 barrels of oil equivalent per day (BOE/d) and 985,000 BOE/d, representing a year-over-year growth rate of approximately 4%1, adjusted for the acquisition of MEG Energy Corp. (MEG).","length":219,"tagName":"p"}]},{"val":[{"type":"text","content":"Downstream crude throughput of between 430,000 barrels per day (bbls/d) and 450,000 bbls/d, representing a crude utilization rate of approximately 91% to 95%.","length":158,"tagName":"p"}]},{"val":[{"type":"text","content":"General and administrative (G&A) costs, excluding stock-based compensation, are expected to remain flat relative to 2025 at $625 million to $675 million, with cost reductions and synergies offsetting the impact of the MEG acquisition.","length":238,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":933,"olType":false},{"type":"text","content":"“Following the completion of a three-year growth investment cycle, we are well positioned to ramp up volumes from our projects at Foster Creek and West White Rose and advance the in-flight expansion at our newly acquired Christina Lake North assets,” said Jon Mc...