| Cenovus Energy Inc. - CVE.t operates two producing steam-assisted gravity drainage (SAGD) projects in the oil sands – Foster Creek and Christina Lake – as well as several emerging projects, which are in various stages of development.|
Foster Creek and Christina Lake are 50 percent owned by ConocoPhillips. The company also produces heavy oil from the mobile Wabiskaw formation at Pelican Lake. Cenovus has a 50 percent interest in their Wood River (Illinois) and Borger (Texas) refineries which Phillips 66 operates.
On April 30, 2014 the company released Numbers
"Cenovus oil sands production climbs 20% in first quarter
• Combined oil sands production at Foster Creek and Christina Lake averaged 120,444 barrels per day (bbls/d) net in the first quarter, up 20% from a year earlier.
• Production at Christina Lake averaged 65,738 bbls/d net in the first quarter, an increase of 48% when compared with the same period a year earlier as phase E approached full production capacity.
• Foster Creek performed at the upper end of Cenovus’s expected production range, averaging 54,706 bbls/d net in the quarter, a slight decrease from the same period a year earlier.
• Cenovus generated nearly $1.2 billion in operating cash flow, a 4% decrease when compared with the same period in 2013, as rising production and higher commodity prices were offset by significantly lower refining margins.
• Cenovus received regulatory approval for its 180,000 bbls/d wholly-owned Grand Rapids oil sands project and plans to move forward with an initial phase of 8,000 to 10,000 bbls/d."