Related Articles
Forward article link
Share PDF with colleagues

Cenovus goes big

Can the Deep Basin help Cenovus make a success of its ConocoPhillips deal?

Canada's Cenovus Energy is primarily known as the country's largest thermal oil sands players, operating some 360,000 barrels per day of steamed, tarry bitumen output in northeastern Alberta. But with its blockbuster C$17.7bn ($13.19bn) buyout of much of ConocoPhillips' Canadian business, the industry's biggest M&A deal since Shell bought BG, it has suddenly become the country's third-largest unconventional gas producer. In addition to the 50% stake in the Foster Creek Christina Lake (FCCL) oil sands project, Cenovus acquired nearly 3m acres of unconventional shale and tight gas acreage in a region known as the Deep Basin, which straddles the northern Alberta and British Columbia border

Also in this section
Gulf Publishing appoints new Group Publisher
8 November 2017
Brian Nessen joins Gulf Publishing Company as Group Publisher for pipelines and infrastructure group
Germany's smart connections
1 November 2017
The global energy system is entering a new, more collaborative phase. And Germany is leading the change, explains Andreas Kuhlmann, Chief Executive of the Deutsche Energie-Agentur (DENA)
Repsol: Energy in a digital world
26 October 2017
The rise of digitisation, data analytics especially, will help to meet rising energy demand, Repsol’s CEO Josu Jon Imaz says