The Globe and Mail reports in its Saturday edition that Cenovus Energy is not under pressure to sell assets following its $8.6-billion takeover of MEG Energy, according to chief executive officer Jon McKenzie. The Globe's Jeffrey Jones writes that the acquisition, completed last week after competing with Strathcona Resources, is expected to increase Cenovus's oil sands output by over 15 per cent. Mr. McKenzie said Cenovus will maintain its financial wherewithal after the cash-and-stock purchase, avoiding any urgency to raise money from asset sales to finance it. It had bolstered its balance sheet in September by selling its half interests in two U.S. refineries for $1.4-billion and is targeting $400-million in annual cost savings from the deal by 2028. Mr. McKenzie said: "There is no burning platform or need to de-lever after doing this transaction. We're very comfortable with the level of debt we're going to be taking on to get this deal done and through time we'll get back to the $4-billion of net debt." He said Cenovus regularly reviews its portfolio for improvements and may trim assets. However, he added Cenovus would not pursue a major acquisition that could jeopardize its balance sheet or harm equity holders.