Committed to smart resource development
Our operational focus is on increasing production from our industry-leading oil sands operations. We currently have two major producing oil sands projects - Foster Creek and Christina Lake - that offer us significant growth opportunities. They are located in the Athabasca region in northeast Alberta. Additionally, we have multiple emerging projects underway. Cenovus holds approximately 1.4 million net acres in northern Alberta, which includes exclusive rights to lease 0.6 million net acres on our behalf and/or our assignee's behalf. Most of the oil is untapped and will help meet consumer demand for decades to come. We also produce heavy oil from the mobile Wabiskaw formation at our 100 percent owned Pelican Lake operation in the Greater Pelican Region, about 300 kilometres north of Edmonton. Another key oil project is the Weyburn oilfield in Saskatchewan. It is one of the most prolific oilfields in Western Canada and has been in operation since 1954.
In our operations, technology plays a key role in extracting oil and natural gas resources, enhancing the amount recovered, and improving the way we get the resources out of the ground. Our ongoing objective is to advance innovative technologies that reduce the amount of land, water and energy we use.
Cenovus also has ownership in two refineries in the United States as part of a 50/50 business venture with ConocoPhillips. Cenovus has a 50 percent interest in their Wood River (Illinois) and Borger (Texas) refineries and ConocoPhillips has a 50 percent interest in certain Cenovus oil sands properties, notably Foster Creek, Christina Lake and Narrows Lake.
