Tag: Cenovus
Swedish-owned Lundin Group closing purchase of Cenovus assets in Alberta on Jan. 5
Cenovus sold assets as part of de-leveraging plan after spending $17.4 billion to acquire ConocoPhillips oil sands, Deep Basin properties The sale of Cenovus Energy’s Suffield and Alderson oil and gas assets to International Petroleum Corp., a newly formed Canadian company owned by Sweden’s energy and mining conglomerate Lundin Group, is expected to close Friday, according to an […]
Cenovus pays off $940 million debt with Weyburn enhanced oil recovery sale
Acquisition includes a 62.1% interest in Weyburn(14,600 boe/d) and 200 boe/d of production from other assets Cenovus Energy Inc. agreed to sell its majority interest in the Weyburn carbon-dioxide enhanced oil recovery operation in Saskatchewan for cash proceeds of $940 million to Whitecap Resources, according to a press release. “We’re pleased with the progress we’ve […]
Big Data and analytics part of technology push by Cenovus – Part 2
Cenovus opex costs already under $9/b, can it be reduced another 20% to 30%? In Part 1 of this column on Cenovus Energy, I reported on the company’s drive to lower it operating costs by substituting light hydrocarbon solvents for steam generated by burning natural gas. In Part 2, I’ll look at how Cenovus is […]
Cenovus appoints former TransCanada COO as new President & CEO
Experience spans corporate strategy, mergers, acquisitions and divestitures, trading and marketing, and stakeholder relations Cenovus Energy Inc. announced the appointment of Alex Pourbaix as President & Chief Executive Officer and member of the Board of Directors, according to a press release. Pourbaix will start the role on Nov. 6. He replaces Brian Ferguson, who earlier […]
Cenovus reaches agreement to sell Palliser assets for $1.3 billion
Cenovus targeting $4 billion to $5 billion in asset sale agreements Cenovus Energy Inc. agreed to sell its Palliser crude oil and natural gas assets in southeastern Alberta to Torxen Energy and Schlumberger for cash proceeds of $1.3 billion, according to a press release. The sale is expected to close in the fourth quarter of […]
Cenovus sells Suffield conventional oil/gas assets for over $500 million dollars
Swedish energy company International Petroleum Corporation has agreed to acquire 100 per cent ownership Cenovus Energy Inc. has agreed to sell its Suffield, AB and Alderson, AB crude oil and natural gas operations in southern Alberta to International Petroleum Corporation for gross cash proceeds of $512 million, according to a press release. Cenovus can also benefit […]
Cenovus sells Pelican Lake oil sands assets to CNRL for nearly $1 billion
Cenovus also selling Palliser assets in southern Alberta Calgary-based oil sands giants Cenovus Energy Inc. and Canadian Natural resources entered into an agreement for Cenovus to sell its Pelican Lake heavy oil operations as well as other assets in northern Alberta, for $975 million. The properties have combined production of 19,600 BOE/d with the sale expected to […]
Cenovus, Suncor meeting sustainability goals, including reducing emissions over 30% by 2026
Cenovus surpassed 30 million tonnes of CO2 injected underground since 2000, equivalent to taking 6,000,000 cars off the road Two of Alberta’s largest oil sands producers, Suncor Energy and Cenovus Energy, released their corporate sustainability reports Monday and reducing greenhouse gas emissions while lowering costs to ensure long-term competitiveness was a major theme for both […]
Alberta news brief July 14: Husky Energy invests in CO2 capture tech to support heavy oil ops
Also in this brief: Cenovus looks outside for CEO to replace to Brian Ferguson, Pengrowth sells Olds/Garrington area assets for $300 million Inventys, the developer of the VeloxoTherm™ System, a carbon dioxide (CO2) capture process, says it has raised $10 million of equity financing, with Husky Energy as lead investor. The money will fund a 30-tonne per day […]
Cenovus buys ConocoPhillips Western Canada deep basin gas assets
Cenovus issued 208 million common shares to ConocoPhillip ConocoPhillips announced a transaction with Cenovus to sell its 50 per cent non-operated interest in the Foster Creek Christina Lake oil sands partnership, as well as the majority of its western Canada Deep Basin gas assets, according to a press release. “With the completion of this transformational […]
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