- Cenovus Energy (TSX:CVE) is demobilizing some staff at its Sunrise oil sands project in Northern Alberta because of the wildfire situation
- The Sunrise oil sands project, 60 kilometres northeast of the oil sands hub of Fort McMurray, is a significant operation for Cenovus
- Despite the demobilization, Cenovus expressed that its operations at Sunrise remain unaffected
- Cenovus Energy stock last traded at C$26.69 per share
Cenovus Energy (TSX:CVE) is demobilizing some staff at its Sunrise oil sands project in Northern Alberta because of the wildfire situation.
The integrated energy company initiated the demobilization of some staff at Sunrise as a precautionary measure.
The Sunrise oil sands project, 60 kilometres northeast of the oil sands hub of Fort McMurray, is a significant operation for Cenovus. In 2023, the site produced 48,900 barrels per day (bpd).
Despite the demobilization, Cenovus expressed that its operations at Sunrise remain unaffected. “While our operations continue as usual, we are taking all necessary precautions by demobilizing staff who are not directly involved in the ongoing operations at Sunrise,” a company spokesperson said in a statement.
The team stated it continues to watch the wildfire situation and is in constant communication with local authorities.
According to Alberta Wildfire, another fire burning northeast of Suncor Energy’s (TSX:SU) Firebag oil sands site is growing but not significantly closer to the infrastructure.
Cenovus Energy Inc. 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.
Cenovus Energy (TSX:CVE) stock last traded at C$26.69 per share and has risen nearly 16 per cent in the past year.
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(Top photo of the Sunrise project: Cenovus Energy)