Additional steps are in response to the ongoing low global oil price environment.
Now plans up to $1 billion this year, down from earlier plans for between $1.3 billion and $1.5 billion.
Company used a provincial program that relaxed quota constraints on production if it was shipped out on new rail capacity.
Shipments to 100,000 barrels per day by the end of last month, which energy company says bodes well for its oil sands expansion plans.
CALGARY — Oil sands producer Cenovus Energy Inc. will aim to achieve “net zero” greenhouse gas emissions by 2050, joining a recent cavalcade of oil companies trumpeting their environmental aspirations. The Calgary-based firm also announced it intends to reduce its…
Increase largely due to a deferral of spending following the mandatory production curtailments in Alberta.
To startup its $675-million, 50,000-barrel-per-day Christina Lake phase G oil sands expansion project.
Foreign companies have also taken billions of dollars with them as they left the Canadian oilpatch.
Calgary-based company announced it will pay a quarterly dividend of 6.25 cents per share.
Newspaper ads ask readers to call on “leaders of all political stripes” to lend their support to the energy industry.
Comes 18 years after Foster Creek facility was launched as the first commercial oil sands project to use steam-assisted gravity drainage.
In Q1, improved commodity pricing drove a strong financial performance, and royalty payments of more than $190 million.”
Energy company showed a profit in Q1 compared to a loss a year ago.
Company is confident Alberta will encourage its as an alternative to delayed new export pipelines.
Price discounts are costing the Canadian economy as much as $80 million per day.