Primary oxygen sensor
The o2 sensors don't do anything untill the car is up up operating temp. After that they fine tune the fuel mixture,if they were bad,you should see a small decrease in fuel mileage.They do wear out ,like a battery kinda,but not usually both at the same time. The front one "takes a reading" then the rear one, the computer figures out if there is too much or too little o2. So anything wrong with the engine,like a bad spark plug wire, exhaust leak ,vacuum leak or
bad fuel could set those codes. If it still runs fine,like you say,I would first think of a fuel problem,lots of corn in the gas these days,run it down to 1/4 or so ,fill it with good fuel and add some deicer "heat" or similar. The O2 code won't shut the car off or anything, won't leave you stranded,the light is on because the emissions levels are above the preset limit in the computer.
Hope there's some help here ,maybe someone else will chime in ......