800m Apples to Apples comparison 2021-12-08 Investor Day Cenovus Energy
CVE management were happy to report the integration of Husky into CVE went smooth, ahead of schedule, and combined co synergies realized. The Lloyd Thermals, Lloyd refinery, and South China seas were mentioned positively numerous times.
Slide 80
Showing former Husky's 10,000 bopd cookie cutter Lloyd Thermals comprising
- Bolney / Celtic (Bolney West)
- Paradise Hill
- Sandall
- Spruce Lk (Spruce Lk North is on deck for its first bitumen late 2022)
- Pike Peak south (also candidate venue of Savante CCUS pilot)
- Dee Valley
- Rush Lk
- Vawn
- Edam West
- Edam East
Average well pairs are 800m
About $250 mm to $300mm capital per cookie project
or about $25,000 per flowing barrel
AXE estimates their 10,000 bopd RF XL system would cost $70mm
So CVE has Lloyd Thermal data consisting of 100s (closer to 1000) of well pair production histories, heat chambers , SOR, day of heating, first oil, etc. They can stack like data into a bell curve chart and then compare like data, soon to be collected, from Marwayne.
AXE likely to beat, wondering by how much?