Cenovus Energy Inc. says it has all key regulatory approvals in place to go ahead with its friendly takeover of oilsands rival Husky Energy Inc.

The endorsement by investors of both Cenovus Energy Inc. and Husky Energy Inc. was resounding, with more than 90 per cent of votes cast in favour of the acquisition.

Headwater Exploration has signed a deal with Cenovus Energy to buy Cenovus's assets in the Marten Hills area of northern Alberta for approximately $100 million in cash and stock.

Right now both companies have a large presence in Calgary. Nenshi is concerned what a merger might do to an already sky-high office vacancy rate as well as the tax base.

The all-share deal by Cenovus Energy Inc. to buy Husky Energy Inc. for about $3.8 billion will likely spark more mega-mergers among Canadian oil and gas majors, according to a veteran oilsands analyst.

The merged Cenovus Energy Inc. will remain headquartered in Alberta.

Both Cenovus Energy and Suncor Energy reported millions of dollars in losses in the second quarter as they throttled back oil production amid a global crude market awash in surplus barrels.

The oilsands company says its loss amounted to 19 cents per share for the period ended June 30, compared with a profit of $1.45 per share or $1.78 billion a year earlier.

The arrival of the tanker off the Saint John coast is being celebrated by Cenovus Energy, who welcomed their "first-ever" transaction with Irving Oil.

Oilsands companies are restoring thousands of barrels of daily production to take advantage of higher oil prices as relaxed pandemic measures allow North American consumers to get back on the road.