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Monday, April 25, 2011 12:39:13 PM
Cenovus Energy Inc. (CVE) is a western Canada focused company. It had 2010 proved and probable reserves of 2.4 BBoe. Cenovus has lease rights to 1.4 MM net acres. It has refining capacity of 226 Mbbls/d. Cenovus is increasing oil production. In 2010, it produced approximately 60% oil and liquids. In 2014, oil and liquids production will be 80%.
Foster Creek will produce 51 to 54 Mbbls/d in 2011. It will have between $11.10 and $11.85 operating costs per barrel. Cenovus will drill between 110 and 120 wells. Christina Lake will produce 9 to 11 Mbbls/d in 2011. 50 to 60 wells are planned and operating costs are $18.65 to $19.40 per barrel. Pelican Lake will produce between 21 and 23 Mbbls/d in 2011. Operating costs are between $14 and $15 per barrel. 40 to 45 gross wells will be drilled this year. Cenovus maintains these properties will add significant oil production growth in the near term. Over the long term, Cenovus has additional properties to increase oil production:
Narrow's Lake 65000 net bbls/d
Grand Rapids 180000 net bbls/d
Telephone Lake 35000 net bbls/d
Winefred Lake 30000 net bbls/d
Foster Creek (Other) 30000 net bbls/d
East McMurray 30000 net bbls/d
West Kirby 30000 net bbls/d
Steepbank 30000 net bbls/d
Cenovus also has refining capacity. It has 356 Mbbls/d crude throughput at Wood River. Borger provides 146 Mbbls/d crude throughput. Cenovus is increasing throughput capacity at Wood River. The combination of increased crude production and refining capabilities provide upside.
This is not an offer to buy or sell securities or any kind of investment advice. Oil investment carries very high risks so consult a licensed professional making any decisions. My resume is real time on Twitter @TurnKeyOil.
Recent CVE News
- Competition Act amendments silence Canadian businesses taking climate action • GlobeNewswire Inc. • 06/20/2024 11:10:19 PM
- Cenovus reports voting results of annual meeting of shareholders • GlobeNewswire Inc. • 05/01/2024 11:20:48 PM
- Cenovus announces first-quarter 2024 results • GlobeNewswire Inc. • 05/01/2024 10:00:06 AM
- Cenovus to hold first-quarter conference call and webcast, virtual annual meeting of shareholders on May 1 • GlobeNewswire Inc. • 04/24/2024 10:04:31 PM
- Cenovus to webcast Investor Day 2024 • GlobeNewswire Inc. • 02/27/2024 08:00:40 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/15/2024 07:58:59 PM
- Form 40-F - Registration statement [Section 12] or Annual Report [Section 13(a), 15(d)] • Edgar (US Regulatory) • 02/15/2024 07:26:37 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/15/2024 07:22:16 PM
- Cenovus announces fourth-quarter and full-year 2023 results • GlobeNewswire Inc. • 02/15/2024 11:00:45 AM
- Cenovus to hold fourth-quarter, full-year 2023 results conference call and webcast February 15 • GlobeNewswire Inc. • 02/09/2024 03:47:23 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/05/2024 10:03:06 PM
- Toronto Stocks Climb, Buoyed by Financials • Dow Jones News • 01/05/2024 05:37:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 12/14/2023 03:26:00 PM
- Cenovus announces 2024 budget • GlobeNewswire Inc. • 12/14/2023 11:00:55 AM
- Suncor Energy Restarting Production at Terra Nova • Dow Jones News • 11/27/2023 12:55:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/07/2023 02:48:41 PM
- Cenovus Energy announces renewal of share buyback program • GlobeNewswire Inc. • 11/07/2023 11:00:41 AM
- Form F-10 - Registration Statement for Securities of certain Canadian Issuers. • Edgar (US Regulatory) • 11/03/2023 09:26:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/02/2023 04:27:28 PM
- Cenovus announces 2023 third-quarter results • GlobeNewswire Inc. • 11/02/2023 10:00:06 AM
- Phillips 66's Asset Sale May Involve Refinery Joint Ventures With Cenovus, Sources Say -- OPIS • Dow Jones News • 10/31/2023 06:17:00 PM
- Phillips 66's Asset Sale May Involve Refinery JVs with Cenovus -- OPIS • Dow Jones News • 10/31/2023 06:16:00 PM
- Cenovus to hold third-quarter conference call and webcast • GlobeNewswire Inc. • 10/25/2023 08:30:46 PM
- Harland & Wolff Group Gets GBP61 Million Contract for Vessel Refurbishment • Dow Jones News • 10/20/2023 07:06:00 AM
- Cenovus Energy announces pricing of tender offers for certain outstanding series of notes • GlobeNewswire Inc. • 09/19/2023 09:52:03 PM
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