Cenovus Energy Inc T.CVE

Cenovus looks cheap

[andy604]

Cenovus completed the payment on The Ohio refinery for $350m on Feb 28 2023, and then there is the White Rose platform in NF, the cost is about $3 billion , 60% Cenovus and 40% Suncor , first oil from the platform /extention will be in 2026, cost of labour etc is very expensive but they got a break on taxes depending on output. Plans are for 80,000 b/d sold at Brent prices. 
 

[JohnSP]

Offshore facilities like this are not the domain of onshore producers, especially heavy oil companies like CVE. Big CapEx, big risk, and are normally domain of supermajor IOC's like XOM, SHEL, TOT, BP, CVX, who have lots of experience and scars on designing, buiding and operating projects like this. Biggest position is CVE but I wish they woudl divest their offshore assets and "stick to

[parcheg]

Good point, John. But when I was in industry, if we took on a special project of any kind, especially if the projet was cap intensive and needed expertise, we sure as heck made sure that we had the right people on hand or hired outside expertise to handle the job. Let's hope CVE has the right folks with the "right stuff".to do the job right the first time. Like any major projects