Committed to smart resource development
Our operational focus is on increasing production from our industry-leading oil sands operations. Three of our four top-quality producing oil sands projects - Foster Creek, Christina Lake and Pelican Lake - are located in the Athabasca region in northeast Alberta. Cenovus holds approximately 800,000 net acres of existing bitumen leases within the Athabasca and Cold Lake areas and has exclusive rights to lease an additional 652,000 net acres on the Cold Lake Air Weapons Range. Most of the oil is untapped and will help meet consumer demand for decades to come. Our fourth 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 all our operations, whether oil or natural gas, technology plays a key role in extracting the resource, enhancing the amount recovered, and improving the way we get the resources out of the ground. Our ongoing objective is to advance technologies that reduce the amount of water, steam, natural gas and electricity used in our operations and to decrease surface land disturbance.
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 our Foster Creek and Christina Lake oil sands projects.
