Cenovus Energy Inc

At Cenovus, we’re committed to being a responsible developer of one of Canada’s most valuable resources – the oil sands. We apply fresh, progressive thinking to minimize our impact on the environment while safely producing energy resources the world needs.

We are proud of how we’re developing this resource and we stand behind our actions.

We’re focused on creating long-term value through the development of our vast oil sands assets in northern Alberta, where we drill for oil and use specialized methods to pump it to the surface. We also have established conventional natural gas and oil production in Alberta and Saskatchewan and 50 percent ownership in two U.S. refineries. Cenovus is one of Canada’s top 35 largest companies by market capitalization and our shares trade on the Toronto and New York stock exchanges under the symbol CVE. We're based in Calgary, Alberta and have more than 4,500 staff members across our operations.

Our purpose, promise, values

How we do our work at Cenovus is as important as what we do. Our passion drives us to grow responsibly and live up to our commitments.

Our purpose, our promise and our values are more than just words on a page. They speak to the pride we all have in the work we do and in the way we do it. They speak to the importance of that work to world progress. Most importantly of all, they speak to the kind of company we are. The kind of company we want to be. They guide us in how we do our work today and as we grow.

Our history

Cenovus began independent operations on December 1, 2009 when Encana Corporation split into two distinct companies: one an oil company (Cenovus), the other a natural gas company (Encana).

Cenovus has retained assets from both PanCanadian Energy Corp. and Alberta Energy Company, the two Canadian oil and natural gas companies that merged to form Encana in 2002. It’s through those two companies that Cenovus can trace its roots.

PanCanadian: In 1881, the Government of Canada commissioned Canadian Pacific Railway (CPR) to build a transcontinental railroad to connect the country from east to west. As part of the deal, CPR was paid with land. In some cases mineral rights were included. A CPR crew drilling for water near Medicine Hat in 1883 actually made Alberta's first natural gas discovery and launched the petroleum era in Western Canada. PanCanadian is the oil and gas company that eventually emerged from that first discovery.

AEC: Amid the tumultuous oil shocks of the 1970s, the Government of Alberta created AEC to provide Albertans and other Canadians with an opportunity to participate, through share ownership, in the industrial and energy-related growth of the province.

Our Board

Our Board of Directors oversees the management of Cenovus’s business, to ensure long-term success, with a view to maximize shareholder value and ensure corporate conduct in an ethical and legal manner via an appropriate system of corporate governance and internal control.

The Board and its committees monitor Canadian and U.S. regulatory developments affecting corporate governance, accountability and transparency of public corporation disclosure to ensure compliance with the law and in the interest of shareholders.

The Board of Directors adopted a Board Diversity Policy on February 10, 2015. In accordance with the Nominating and Corporate Governance (NCG) Committee mandate and the Board Diversity Policy, the NCG Committee is responsible for identifying individuals qualified to become Board members and recommending to the Board proposed nominees for election or appointment. The NCG Committee seeks new nominees who have a sufficient range of skills, expertise, experience and independence to ensure our Board can carry out its mandate and function effectively, while considering the composition of the current Board.

The Board of Directors regularly evaluates its own effectiveness, as well as that of its committees and members. As part of this process, the Chair of the NCG Committee meets periodically with each Director. To assist the Chair’s review, each Director completes an anonymous effectiveness questionnaire as well as periodic self and peer evaluations.

Who we are