Expanded Market Access and Lower Production Costs Aid Oil Sands Production Growth
Shale plays, most notably the Permian, have garnered all the oil love of late, with the market generally overlooking Canada’s oil sands production potential. Although, many have written off the oil sands as too costly (and shunned companies investing in oil sands assets), we think advancements associated with solvent assisted technology will lower oil sands breakevens, leading to long-term Canadian production that will surprise to the upside. New extraction technology will help the oil sands com...Cenovus Energy is in the business of development, production and marketing of crude oil, natural gas and natural gas liquids ("NGLs") in Canada with refining operations in the U.S. Co. operates in two business segments: Upstream, which includes Co.'s development and production of crude oil, NGLs in Canada, is organized into two operations: Oil sands and conventional; and Refining and Marketing, which is focused on the refining of crude oil products into petroleum and chemical products at two refineries located in the U.S. This segment also markets Co.'s crude oil and natural gas, as well as third-party purchases and sales of product.
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