|Traded as||TSX: CVE
S&P/TSX 60 component
|Industry||Oil and Natural Gas|
|Brian Ferguson, President & Chief Executive Officer
Michael A. Grandin (Board Chair)
|Products||Oil, Natural Gas|
|Revenue||$18.7 billion CAD net before royalties (2013)|
Number of employees
Cenovus was formed on December 1, 2009 when Encana Corporation split into two distinct companies: one an integrated oil company (Cenovus), the other a pure play natural gas company (Encana). The split left Cenovus with the assets formerly belonging to PanCanadian Energy Corp. and Alberta Energy Company (AEC), the two Canadian oil and gas companies that merged to form Encana in 2002.
Cenovus currently[when?] has two producing projects in the Alberta oil sands, namely Foster Creek and Christina Lake (Alberta), and several emerging projects in various stages of development. Foster Creek and Christina Lake are 50 percent owned by ConocoPhillips. Cenovus produces heavy oil from the mobile Wabasca formation at its Pelican Lake operation in the Greater Pelican Region, about 300 kilometres north of Edmonton. The company operates the Weyburn oilfield in Saskatchewan, one of the most prolific oilfields in Western Canada and in operation since 1954. The Weyburn project is Canada’s largest CO2 enhanced oil recovery operation and the site of the largest geological greenhouse gas storage project in the world, the International Energy Agency Greenhouse Gas Weyburn-Midale CO2 Monitoring and Storage Project. This independent research initiative is managed by the Petroleum Technology Research Centre in Regina, Saskatchewan, which studies carbon capture and storage in an oil reservoir.
The primary technology Cenovus used at its Foster Creek and Christina Lake projects is called steam-assisted gravity drainage (SAGD). Cenovus has tested[when?] solvent aided process (SAP) to enhance the SAGD process at Christina Lake. Cenovus hac been planning to use solvent extraction at its Narrows Lake SAGD project that is currently[when?] under construction.
In 2010, Cenovus commercialized its Wedge WellTM technology, which is used to produce more oil at oil sands operations while using little to no additional steam. in 2011 The company commercialized its blowdown boiler technology to improve the efficiency of water use at its oil sands operations. Cenovus has[when?] developed its SkyStratTM drilling rig that allows an exploratory rig to be flown into remote areas by helicopter piece-by-piece, set up to drill a test well, dismantled and airlifted away. The process requires no roads, meaning little disturbance to the boreal forest.
Cenovus Energy "is at the forefront of a new wave of Fort McMurray-area development" in its own camps in other areas. Cenovus Energy provides housing for staff and other contract workers, commonly known as "camps", who work at their Christina Lake and Foster Creek projects and other locations in northern Alberta. A few of the bigger camps house up to 800 people. The camps employ housekeeping, kitchen, janitorial and technical support staff, as well as electricians and paramedics who work and live for a short time on-site as part of a shift rotation. Most camps include amenities such as state-of-the-art gyms and recreational areas.
- Quick Facts About Cenovus Cenovus
- EnCana proceeds with plan to split into two distinct and independent energy companies Encana
- Weyburn-Midale published by Petroleum Technology Research Centre dtae? title?
- Cenovus (April 29, 2010). "Western Canada Select fact sheet".
- Refining Marketing Phillips 66, date?
- Steam-assisted gravity drainage (Cenovus) date?
- Wedge well TM technology Cenovus, date?
- Blowdown boiler Cenovus date?
- SkyStrat drilling rig Cenovus
- Nathan VanderKlippe (September 15, 2010). "Oil sands camps go five-star". The Globe and Mail. Retrieved 31 March 2015.