Athabasca Oil Corporation posted a 20% production increase in Q3 2026 and strong cash flow growth, advancing its Leismer expansion toward 40,000 bbl/d by end-2027. The company announced a $5.7 billion acquisition deal with Cenovus Energy, offering $12 per share—a 14% premium—combining cash and shares. This deal accelerates development of Athabasca's thermal assets and consolidates Duvernay Energy under Cenovus, promising operational synergies and shareholder value. The transaction is expected to close by December 2026, pending approvals.
Cenovus Energy, involved in the acquisition deal with Athabasca Oil, is trading at USD 31.70 on Pluang. The stock is down 4.46% in the past day with a market cap of $58.54 billion. This data is as of Oct 29, 2026 06:21 WIB.
