No point in doing so if there’s no pipeline capacity to carry the oil to market.
Cenovus said drill rig site has been shut down for an investigation.
MEG Energy is gearing up the regulatory process to build and operate a 120,000 barrel per day operation in Alberta’s Athabasca oil sands region.
Cenovus Energy Inc. is ratcheting up spending next year as it pushes forward with the expansion of its Christina Lake oil sands project.
ConocoPhillips has started up a $3.8-billion coker and refinery expansion project in Illinois that is part of a joint venture with Calgary oil company Cenovus Energy.
Oil sands operator and refiner Cenovus Energy reports net profits more than doubled to $510 million as output rose and the company booked a big hedging gain.
Cenovus Energy Inc. plans to accelerate oil project development over the next decade, investing an average of up to $3.5 billion a year as it seeks to increase production to about 500,000 barrels per day by the end of 2021.
Wild fires in Northern Alberta are causing disruptions to energy and forest product operations in the region.
Cenovus Energy Inc. plans to spend $2 billion on oil sands projects and other operations in 2011, much of it to lay the groundwork for future projects.