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Cenovus Energy Inc.

09:44 AM EST - Cenovus Energy Inc. : Reached an agreement to purchase BP’s 50% interest in the bp-Husky Toledo Refinery in Ohio. Cenovus has owned the other 50% of the refinery since its combination with Husky Energy in 2021. Cenovus’s U.S. operating business will assume operatorship from bp upon closing of the transaction, which is expected before the end of 2022, dependent on the satisfaction of closing conditions. Total consideration includes $300 million U.S. in cash, subject to customary closing adjustments, plus the value of inventory. In addition, the parties have signed a multi-year product supply agreement. Cenovus Energy Inc. shares T.CVE are trading unchanged at $21.26.