Our strategy is focused on maximizing shareholder value through cost leadership and realizing the best margins for our products. We believe that maintaining a strong balance sheet will help Cenovus navigate through commodity price volatility and give us the flexibility to proceed with opportunities at all points in the price cycle. We aim to evaluate disciplined investment in our portfolio against dividend increases, share repurchases and maintaining the optimal debt level while retaining investment grade status. Our investment focus will be on areas where we believe we have the greatest competitive advantage.
- Oil sands: We are committed to maintaining and improving our industry-leading position as a low-cost oil sands operator and the largest in-situ producer by leveraging our track record of strong operational performance while demonstrating technical leadership to improve reserves, production and earnings. We are focused on advancing innovation to unlock future opportunities that maximize value from our vast resource base and improve our environmental footprint.
- Conventional oil and natural gas: We are committed to disciplined investment in focused land positions across our conventional oil and natural gas portfolio to generate strong diversified returns, complementing our longer-term oil sands investments with short-cycle development opportunities.
- Marketing, transportation & refining: We strive to maximize the value from our oil and gas resources through increased participation along the value chain. Our integrated approach to transportation, storage, marketing, upgrading and refining helps optimize margins from each barrel of oil we produce.
- People: We strive to maintain an engaging workplace where people can grow their skills and capabilities to adapt to an ever-changing environment while delivering results for the business. We are focused on upholding trust in the communities where we operate by living up to our values and commitments.