Cenovus Energy Inc. has closed its previously announced purchase of assets in Western Canada from ConocoPhillips after receiving all necessary regulatory approvals for the transaction.

Company generates nearly $1 billion in cash flow.

Cenovus generated cash flow of $939 million or $1.24 per share diluted in the second quarter of 2011. Refining operating cash flow was $322 million during the quarter mainly due to improved refined product prices and higher throughput.