Cenovus Energy is a Canadian oil company. We're committed to applying fresh, progressive thinking to safely and responsibly unlock energy resources the world needs. Our operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface, as well as natural gas and oil production across Alberta and southern Saskatchewan. We also have 50 percent ownership in two U.S. refineries.
Our expansive oil sands reservoirs, along with our considerable natural gas and crude oil production and cost-efficient refineries, offer significant opportunities for us to deliver long-term shareholder value.
The people at Cenovus are respectful of the environment and communities where we work and committed to applying fresh, progressive thinking to the development of energy resources the world needs.
Our shares are listed on the Toronto and New York stock exchanges and trade under the symbol CVE.
Cenovus at-a-glance
- Canadian oil company
- More than 3,500 staff
- Committed to implementing new ideas and new approaches, safely and responsibly
- Proven track record of low-cost operations and environmental leadership
- Superior financial position with a strong balance sheet and free cash flow streams from established assets
- Lower risk profile due to integration – our natural gas fuels our oil sands production, which can be refined and turned into products like gasoline, diesel and other petroleum products
- Significant opportunity for oil sands production growth at Foster Creek and Christina Lake and at our emerging projects in northern Alberta
- Foster Creek and Christina Lake have one of the lowest steam to oil ratios in the industry: about 2.2 at both facilities combined
- Our business venture with ConocoPhillips provides integration of oil sands and refining operations. Cenovus has a 50 percent interest in Wood River Refinery (Illinois) and Borger Refinery (Texas); in return ConocoPhillips has a 50 percent interest in certain Cenovus oil sands properties, notably Foster Creek, Christina Lake and Narrows Lake
- Coker and refinery expansion to be ready for operation in late 2011 at the Wood River Refinery will make it one of the leading heavy oil refineries in the U.S.
- Significant near-term growth opportunities in conventional oil production
- Established natural gas properties provide us with access to a predictable and reliable stream of internally-generated cash flow to fund our oil growth
- Committed to strengthening our communities by supporting learning, safety and well-being, and helping sustain the communities where we live and work
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