Cenovus Energy Inc T.CVE

Alternate Symbol(s): CVE | CVE.WS | T.CVE.WT | T.CVE.PR.A | CNVEF | T.CVE.PR.B | T.CVE.PR.C | T.CVE.PR.E | T.CVE.PR.G

Cenovus Energy Inc. is a Canada-based integrated energy company. The Company has oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The Company's segments include Upstream, Downstream, and Corporate and Eliminations. Its Upstream segment includes Oil Sands, Conventional, and Offshore. Its Downstream segment consists of Canadian Manufacturing, and United States Manufacturing. The Company's upstream operations include oil sands projects in northern Alberta, thermal and conventional crude oil, natural gas and natural gas liquids (NGLs) projects across Western Canada, crude oil production offshore Newfoundland and Labrador and natural gas and NGLs production offshore China and Indonesia. The Company's downstream operations include upgrading and refining operations in Canada and the United States, and commercial fuel operations across Canada.

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Cenovus Energy Inc > Strengths / weaknesses

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Comment by SHaydenon Jul 11, 2021 11:12am

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Post# 33527626

RE:RE:RE:RE:RE:RE:RE:RE:Strengths / weaknesses

The existing cve oil sands assets are excellent I was referring the the hse oil sands assets as high cost. Your correct on the refining the two refineries are phillips 66 not cop my error.

Eigen337 wrote: SHayden - (7/10/2021 9:47:32 PM)

RE:RE:RE:RE:RE:RE:Strengths / weaknesses

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"The other thing we need to consider is CVE is not an experienced refiner, all the prior refining operations have been managed by COP. So they need to get up to speed quickly at running their new refineries and upgraders."

"Optimizing the high-cost Oil Sands assets and integrating the refining operations are the two main operational priorities at this time. "

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The WRB Refining Partnership {Wood River/Borger refineries} unit is OPERATED by PSX (Phillips 66 - NYSE) and NOT COP (ConocoPhillips - NYSE) !!!

The OILSANDS assets are NOT HIGH-COST !!!

The LONG LIFE / LOW DECLINE crude oil reserves are CAPITAL-INTENSIVE to DEVELOP {and EVEN this is being DRAMATICALLY-REDUCED by well pad design changes and LONGER laterals} but have LOW OPERATING and MAINTENANCE and SUSTAINING CAPEX production costs !!!

In fact, the Christina Lake (CL) SAGD property has the LOWEST SOR (steam to oil ratio) per unit barrel of production of any SAGD operation in Canada and the SECOND-LOWEST non-energy operating expenses after MEG Energy !!!

'Chances' (?????) are that they are KEEPING the Atlantic OFFSHORE as there were MEDIA reports weeks ago that CVE is INCREASING their stake in Terra Nova along with OPERATOR Suncor !!!

In Brent USD 65+ per barrel crude oil pricing environment, EAST COAST offshore is VERY PROFITABLE for their owners !!!

This is my opinion only.

Eigen337