In Wednesday morning trading, shares of major Canadian oil sands producer Cenovus Energy (NYSE: CVE) rose 0.8% following the company's announcement of record third-quarter production and a revised acquisition offer for MEG Energy. MEG shareholders will have the option to receive either cash or Cenovus stock, with total consideration capped at CAD 3.8 billion in cash and 157.7 million shares. Cenovus achieved downstream crude processing of 712,000 barrels per day in the third quarter.
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