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Cenovus Energy (CVE +0.3%) achieves initial production from the expansion of its Christina Lake...

Cenovus Energy (CVE +0.3%) achieves initial production from the expansion of its Christina Lake oil sands operation three months ahead of schedule and within budget. CVE says it began injecting steam in Q2 and began producing in late July. August production averaged more than 61K bbl/day gross, an increase of ~4K bbl/day Q/Q.
Comments (1)
  • Uncle Pie
    , contributor
    Comments (2726) | Send Message
     
    Nice article in Canada's Financial Post today about the latest technological advances in oil sands extraction process, opining that the current recovery rate of 10% of the oil in the bitumen could eventually get to 30%, a factor which would, according to the article, make Canada's oil reserves larger than the whole middle east.
    Cenovus would be a major beneficiary of any such increases in the oil recovery rate, and is mentioned in the article.

     

    Long CVE
    4 Sep 2012, 02:44 PM Reply Like
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