Cenovus Energy Inc. (pronounced se-nō-vus) is a Canadian integrated oil and natural gas company headquartered in Calgary, Alberta.

In 2017, Cenovus purchased ConocoPhillips' 50 percent share of their Foster Creek Christina Lake (FCCL) oil sands projects and most of their conventional assets in Alberta and British Columbia, including the Deep Basin.

[8][9] The combined company is Canada’s third-largest crude oil and natural gas producer and the second-largest Canadian-based refiner and upgrader.

[7] Cenovus’s current conventional assets include the Deep Basin, a liquids-rich natural gas fairway located in northwestern Alberta and northeastern British Columbia, and the Marten Hills heavy oil project.

The Deep Basin asset comprises approximately 2.8 million net acres of land and produced more than 125,000 barrels of oil equivalent.

According to Cenovus's Chief Sustainability Officer, the company is pursuing government support for decarbonization efforts, because "[t]hese are not projects that make revenue.

"[29] However, a report by the Canadian Institute for Climate Choices, a source of independent analysis on climate change issues funded by Environment Canada, recommended investing limited public dollars to capture "a share of growing, transition-opportunity markets" rather than in "assets at elevated risk of being stranded in global low-carbon scenarios" as fossil fuel demand "inevitably decline[s] globally".