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FINWIRES

Cenovus Hits Record Q1 Output as Liquids Production Rise, Gas and Refining Weigh

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-- Canadian oil sands producer, Cenovus Energy (CVE), reported on Wednesday that production for the first quarter of 2026 reached 972,100 barrels of oil equivalent per day, marking its highest quarterly level and a 9% increase from 818,800 BOE/d in the same period a year earlier.

Oil and natural gas liquids production rose to 830,100 barrels per day, up from 670,900 bpd in the first quarter of 2025.

Conventional natural gas production declined to 852 million cubic feet per day from 887.9 MMcf/d a year earlier.

In downstream operations, Cenovus reported crude throughput of 458,500 bpd, down from 665,400 bpd in the year-ago quarter, but said refinery utilization was 97%.

The company also increased offshore production to 75,400 BOE/d during the quarter, up 6% from the previous quarter.

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