Is Cenovus taking over Athabasca Oil Assets are very near to CVE assets .Read below
Alex Pourbaix, CEO of CVE, comments on growth capex allocation opportunities:
One of the things that I think has been a huge positive out of the Husky transaction is we are finding very, very significant opportunities to grow production, improve our profitability, and these are largely what I would call smaller Greenfield or Brownfield type opportunities coming out of our existing asset base. A great example, I think would be Narrow’s Lake. So that was a project that for decades was thought of in this Company, and frankly construction started on it as a standalone Greenfield facility. And we have made so many advances in our ability to move emulsion and steam long distances that we are going to develop Narrow’s Lake, but it is really going to be developed as pads at Narrow’s lake with the emulsion being brought back to Christina lake for processing and treating them.