Castles Made of (Oil) Sand – Cenovus/Athabasca Deal Extends Trend in Canada’s Booming Oil Sands - RBN Energy

The leaders of Cenovus Energy Inc., Calgary, plan to pay about CAN$5.7 billion for Athabasca Oil Corp. in a move president and chief executive officer Jon McKenzie called “a natural extension” of Cenovus’ Alberta oil sands strategy. Athabasca will add roughly 45,000 boe/d to Cenovus’ production, which McKenzie and his team have told investor will get close to 1 M boe/d this year. Roughly 80% of that latter figure comes from Canada’s oil sands, a business that Cenovus beefed up a year ago by buying MEG Energy Corp. for nearly CAN$8 billion. That transaction consolidated a lot of SAGD [steam-assisted gravity drainage] oil sands production in the Christina Lake area of Alberta.

Canadian oil and natural gas company Cenovus Energy is buying oilsands producer Athabasca Oil in a cash and stock deal valued at $5.7 billion. That story and more in Business Matters for October 5, 2026.

$10B data centre stirs debate in Nova Scotia Business Matters: Sales of electric vehicles accelerate in Canada in August

AtlanticNova ScotiaNew BrunswickPrince Edward Island Newfoundland and LabradorCalgaryLethbridgeKitchenerGuelphNorthern OntarioSudburyNorth BaySault Ste. MarieTimminsOttawaKingstonBrockvillePembrokeReginaYorktonSaskatoonPrince AlbertTorontoWatchWeatherPeelHamiltonDurhamYorkHaltonNiagaraQueen's ParkToronto City HallIn PicturesVancouverVancouver IslandCanadaLocal SpotlightRoyal FamilyPoliticsNanosPower PlayQuestion PeriodFederal Election 2025WorldMideast ConflictRussia-Ukraine WarWatchLatestCaptured on CameraPoliticsLifestyleConsumerHealthExplainedEntertainmentTechnologyDeception DecodedAutosEnvironmentBusinessInflationReal EstateAutos

AtlanticNova ScotiaNew BrunswickPrince Edward Island Newfoundland and LabradorCalgaryLethbridgeKitchenerGuelphNorthern OntarioSudburyNorth BaySault Ste. MarieTimminsOttawaKingstonBrockvillePembrokeReginaYorktonSaskatoonPrince AlbertTorontoWatchWeatherPeelHamiltonDurhamYorkHaltonNiagaraQueen's ParkToronto City HallIn PicturesVancouverVancouver IslandCanadaLocal SpotlightRoyal FamilyPoliticsNanosPower PlayQuestion PeriodFederal Election 2025WorldMideast ConflictRussia-Ukraine WarWatchLatestCaptured on CameraPoliticsLifestyleConsumerHealthExplainedEntertainmentTechnologyDeception DecodedAutosEnvironmentBusinessInflationReal EstateAutos

The 20th annual Cape to Cabot road race is taking place tomorrow. The grueling 20 km trek sees participants running from one historic landmark to another: From Cape Spear to Cabot Tower on top of Signal Hill. The race starts at 8 a.m., and because of that there are a few related road closures in St. John’s. Between 7:45 and 11a.m. there will be numerous road closures along the route. A full list can be found online at VOCM dot com. Expect traffic impacts from 7:45 a.m. to 11 a.m. on routes including Blackhead Road, Southside Road, Water Street, Harbour Drive, Duckworth Street, Temperance Street and Signal Hill Road.