Cenovus achieves landmark business milestone

Jul 11 06:07 2019 Print This Article

CALGARY, Alberta, July 11, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that on July 10, 2019 the company reached one billion barrels of cumulative production from its Foster Creek and Christina Lake oil sands facilities in northern Alberta. Cenovus is the first company to produce one billion barrels of oil using steam-assisted gravity drainage (SAGD) technology.

Foster Creek began producing oil as a pilot under a predecessor company in 1997 and in 2001 became the first commercial oil sands project to use SAGD, while Christina Lake began producing oil in 2002.

“This incredible achievement … Continue Reading

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