A start on additions to oil production offshore Newfoundland topped the 2023 growth agenda prompting a 50% budget increase for 2023 by Calgary-based Cenovus Energy Inc. Spending would jump to C$600-700 million ($450-525 million) in 2023 to begin work on a new platform and drilling, dubbed West White Rose, 180 miles east of Newfoundland’s capital,…
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Suncor to Write Down $425M for Stranded Oilfield Project Offshore Newfoundland
Failure to revive a mothballed production project prompted Calgary-based Suncor Energy Inc. to announce Tuesday a C$425 million ($319 million) write down on its 27.5% share of an oilfield offshore of Newfoundland. Suncor said majority owner Husky Energy Inc. stranded a 200 million bbl White Rose field addition by suspending construction when the Covid-19 virus…
Cenovus Cites Lack of Canadian Oil Infrastructure for Reducing Rates, Storing Barrels
A “critical” lack of crude oil export capacity from Western Canada has forced Cenovus Energy Inc. to reduce production rates and store excess barrels in its reservoirs, the Calgary-based operator said Thursday.
Schlumberger, Torxen Grab Cenovus Properties in Alberta for $1.3B
Calgary-based Cenovus Energy Inc. is selling its natural gas-weighted Palliser properties in southeastern Alberta for $1.3 billion to a joint venture between privately held Canadian producer Torxen Energy and Schlumberger Ltd.
Cenovus Sells Western Canada Oil, NatGas Royalties Unit For Financial Wiggle Room
The Ontario Teachers Pension Plan has agreed to pay Cenovus Energy Inc. C$3.3 billion to buy a portfolio of oil and natural gas royalty lands in Western Canada.
Cenovus Sells Western Canada Oil, NatGas Royalties Unit For Financial Wiggle Room
The Ontario Teachers Pension Plan has agreed to pay Cenovus Energy Inc. C$3.3 billion to buy a portfolio of oil and natural gas royalty lands in Western Canada.