Cenovus Energy
| 200px | |
| Type | Public |
|---|---|
| Traded as | TSX: CVE NYSE: CVE |
| Industry | Oil and Natural Gas |
| Founded | 2009 |
| Headquarters | Calgary, Alberta, Canada |
| Key people |
Brian Ferguson, President & Chief Executive Officer Michael A. Grandin (Board Chair) |
| Products | Oil, Natural Gas |
| Revenue | $11.5 billion CAD net before royalties (2009) [1] |
| Employees | 3000+ (2009) |
| Website | Cenovus.com |
Cenovus Energy (pronounced se-nō-vus) is an integrated oil company headquartered in Calgary, Alberta.
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).[2] 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 as well as a stake in 2 high quality refineries (Wood River Refinery near St. Louis which is the largest of the 12 refineries operated by ConocoPhillips and Borger in Borger, Texas).[3]
Operations
Operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface, and natural gas and crude oil production in Alberta and Saskatchewan. Cenovus uses the oil recovery method called steam assisted gravity drainage (SAGD)[4] at both its Foster Creek and Christina Lake projects.
The 2 refineries that Cenovus Energy has 50 percent ownership interest in Wood River (Illinois) and Borger (Texas) operated by ConocoPhillips were acquired in 2006 in a deal that transferred half of Encana's control in Foster Creek and Christina Lake to ConocoPhillips.[5][6]
Cenovus Energy operates the world's largest geological CO2 sequestration project in Weyburn, Saskatchewan. Since the start of CO2 injection in 2000, more than 15 million tonnes of CO2 have been sequestered at Weyburn. The project is the site of a world-scale research initiative operated under the auspices of the International Energy Agency, which studies the sequestration of CO2 in an oil reservoir.[7]
References
External links
