Cenovus Energy Inc. (Cenovus), incorporated on September 24, 2008, is an oil company. The Company’s operations include oil sands properties and established crude oil and natural gas production in Alberta and Saskatchewan. It also has ownership interests in two refineries in Illinois and Texas. The Company operates in three segments: Upstream, Refining and Marketing, and Corporate and Eliminations. Upstream includes Cenovuss development and production of crude oil, natural gas and natural gas liquids (NGLs) in Canada, is organized into two operations: oil sands and conventional. Refining and Marketing, which is focused on the refining of crude oil products into petroleum and chemical products at two refineries located in the United States. Corporate and Eliminations include unrealized gains or losses recorded on derivative financial instruments, as well as other Cenovus-wide costs for general and administrative and financing activities.