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Stock Market & Financial Investment News

News Breaks
December 12, 2012
06:04 EDTCVECenovus Energy expects to invest $3.2B-$3.6B in oil assets in FY13
Cenovus expects continued robust growth in oil production in 2013, mainly due to expanded capacity at its Christina Lake oil sands operation. Investment in the company's other oil operations is also expected to start paying off with production increases anticipated next year. Cenovus is anticipating strong total cash flow of between $3.1B and $4B in 2013. The company's oil production and refining operations are expected to generate the majority of operating cash flow.
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September 17, 2014
17:06 EDTCVECenovus Energy provides update on Foster Creek
Cenovus Energy achieved first oil production at its recently-completed Foster Creek phase F expansion earlier this month. Phase F is expected to add 30,000 bbls/d of capacity, with production ramping up over the next 12 to 18 months. By year-end, production from phase F is expected to be approximately 5,000 bbls/d. Phases G and H are under construction and are expected to add another 30,000 bbls/d each with first production anticipated in late 2015 and 2016, respectively. This will bring total expected gross production capacity at Foster Creek to 210,000 bbls/d. Following the completion of phases F, G and H, optimization work is expected to increase total capacity by another 15,000 to 35,000 bbls/d. Cenovus expects the F, G and H expansion and optimization projects can be completed with capital costs of between $35,000-$38,000 per incremental barrel, better than industry average.
September 9, 2014
07:08 EDTCVEPeters & Co. Ltd to h old a conference
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