Quick facts about Cenovus
Cenovus: A Canadian oil company
- Canadian oil company
- About 5,000 people
- Committed to implementing new ideas and new approaches, safely and responsibly
- Proven track record of low-cost operations and environmental leadership
- Superior financial position with a strong balance sheet and free cash flow streams from established assets
- Access to a predictable and reliable stream of internally-generated cash flow from our established natural gas properties to fund our oil growth
Foster Creek: located about 330 kilometres northeast of Edmonton on the Cold Lake Air Weapons Range. Our largest project, considered among the best commercial and technical steam-assisted gravity drainage (SAGD) projects in the industry. The pilot project began in 1996 and in 2002 became the industry's first commercial SAGD project. Foster Creek's current gross production capacity is approximately 120,000 barrels per day gross. The project is 50 percent owned by ConocoPhillips.
Christina Lake: located about 120 kilometres south of Fort McMurray. Christina Lake, a top-tier reservoir with huge potential for growth, began in 2000 and is in an earlier stage of development than Foster Creek. Its current production capacity is 98,000 barrels per day. The project is 50 percent owned by ConocoPhillips.
Pelican Lake: located about 300 kilometres north of Edmonton. We produce heavy oil from the mobile Wabiskaw formation at our Pelican Lake project. Since 2006, polymer has been injected along with water flooding technology to optimize horizontal drilling and enhance production from this reservoir. It currently produces about 24,000 barrels per day and is expected to reach 55,000 barrels per day.
Weyburn: located in southeast Saskatchewan. Our Weyburn project is currently producing about 16,000 barrels per day net. Since the start of CO2 injection in 2000, more than 18 million tonnes of CO2 have been stored here, which otherwise would have been vented into the atmosphere.
Conventional Oil: in addition to Pelican Lake, Cenovus has extensive oil operations in Alberta and Saskatchewan. These include conventional and tight oil assets in Alberta and developing tight oil assets in southern Saskatchewan, as well as the established Weyburn operation that uses carbon dioxide injection to enhance oil recovery.
Natural Gas: the majority of the natural gas production comes from our shallow gas play that covers more than three million acres in southeast Alberta, including parts of Canadian Forces Base Suffield. We have operated for more than 50 years in the area and in that time have produced in excess of two trillion cubic feet of natural gas. Shallow natural gas is drilled with lighter equipment and has a small environmental footprint.
Wood River Refinery: located in Roxana, Illinois. This refinery has a processing capacity of approximately 311,000 barrels per day. It refines crude oils to produce gasoline, diesel and jet fuel, petrochemical feedstocks and asphalts. In November 2011, the completed coker construction and start up of the coker and refinery expansion (CORE) project happened. The project's completion has increased total Canadian heavy crude oil processing capacity to between 200,000 barrels per day and 220,000 barrels per day. The project is 50 percent owned by Phillips 66.
Borger Refinery: located in Borger, Texas. This refinery has a processing capacity of approximately 146,000 barrels per day of crude oil and approximately 45,000 barrels per day of NGLs. It produces gasoline, diesel and jet fuel along with NGLs and solvents. In July 2007, a new coker, with a capacity of approximately 25,000 barrels per day, was brought into service, enabling the refinery to process heavy oil blends. The project is 50 percent owned by Phillips 66.
IMPORTANT NOTE: Cenovus presents production volumes on a net to Cenovus before royalties basis, unless otherwise stated.