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Cenovus Energy Incorporated
Type Public (TSXCVE, NYSECVE)
Founded 2009
Headquarters Calgary, Alberta, Canada
Key people Brian Ferguson, President & Chief Executive Officer
Michael A. Grandin (Board Chair)
Industry Oil and Natural Gas
Products Oil, Natural Gas
Revenue $16.6 billion USD (2008) [1]
Employees 3000+ (2009)
Website Cenovus.com

Cenovus Energy (pronounced se-NO-vus) is an integrated oil company headquartered in Calgary, Alberta.

Cenovus was formed on December 1, 2009 when EnCana Corporation split into two distinct companies: one an integrated oil company (Cenovus), the other a pure play natural gas company (EnCana)[2]. Cenovus has retained assets from both PanCanadian Energy Corp. and Alberta Energy Company (AEC), the two Canadian oil and gas companies that merged to form EnCana in 2002[3].

Operations

Cenovus Energy operations include enhanced oil projects and natural gas and crude oil production in Alberta and Saskatchewan. Cenovus uses the enhanced oil recovery method called steam assisted gravity drainage (SAGD)[4] at both its Foster Creek and Christina Lake projects.

Cenovus Energy also has 50 percent ownership interest in two refineries in Wood River (Illinois) and Borger (Texas) operated by ConocoPhillips[5]. ConocoPhillips has a 50 percent interest in Foster Creek and Christina Lake, operated by Cenovus.

Cenovus Energy operates the world's largest geological CO2 sequestration project in Weyburn, Saskatchewan. Since the start of CO2 injection in 2000, more than 15 million tonnes of CO2 have been sequestered at Weyburn. The project is the site of a world-scale research initiative operated under the auspices of the International Energy Agency, which studies the sequestration of CO2 in an oil reservoir.[6]

References

External links

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