Our focus is on developing our vast Canadian oil sands assets. These assets are located in northern Alberta where we drill for oil and use specialized methods to pump it to the surface from deep underground. We also have a large land base with significant production in the Deep Basin, a liquids-rich natural gas fairway in Alberta and British Columbia. We also have 50 percent ownership in two U.S. refineries.
In addition, Cenovus has legacy conventional oil and natural gas assets in Alberta and Saskatchewan that we are currently marketing for sale as we continue to optimize our portfolio.
We have two producing projects in the oil sands — Foster Creek and Christina Lake — as well as several emerging projects for future development.
The Deep Basin assets along the eastern slopes of the Rocky Mountains in northwestern Alberta and northeastern British Columbia are our second production platform.
Marketing and transporting our oil
We’re focused on identifying new customers and transporting our oil around the world, to markets that provide the best prices. We move the majority of our oil by pipeline, complemented by rail transportation.
We have 50-percent ownership in two U.S. refineries — Wood River in Illinois and Borger in Texas. Our partner, Phillips 66, operates the facilities.