Cenovus Energy Inc - Company Profile
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Business Description
Cenovus Energy Inc (Cenovus Energy) is an integrated energy company with operations in oil and natural gas production, upgrading, refining, and marketing. The company operates in Canada, the US, and the Asia Pacific region. Its primary activities include oil sands projects in northern Alberta, thermal and conventional crude oil and natural gas projects across Western Canada, crude oil production offshore Newfoundland and Labrador, and natural gas and liquids production offshore China and Indonesia.
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Business Segments
Overview
Includes the operations of its owned Lloydminster upgrading and asphalt refining complex, which converts heavy oil and bitumen into synthetic crude oil, diesel, asphalt, and other ancillary products. It also owns and operates the Bruderheim crude-by-rail terminal and two ethanol plants. In FY2023, the segment’s capital expenditure stood at CAD145 million, which grew 23.9% YoY.
Performance
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Overview
It is involved in the production of Natural Gas Liquids (NGLs) and natural gas. The assets are located within the areas of Elmworth-Wapiti, Kaybob-Edson, Clearwater, and Rainbow Lake in Alberta and British Columbia. It also has interests in numerous natural gas processing facilities. The NGLs and natural gas are marketed and transported, with additional third-party commodity trading volumes, through access to capacity on third-party pipelines, export terminals, and storage facilities. In FY2024, the segment’s capital expenditure stood at CAD421 million, which decreased 6.9% YoY.
Performance
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Overview
Includes offshore operations, exploration, and development activities in China and the east coast of Canada. It also has an equity interest in Husky-CNOOC Madura Ltd, which is engaged in the exploration and production of NGLs and natural gas in offshore Indonesia. In FY2024, the segment’s capital expenditure stood at CAD1,145 million, which grew 107.1% YoY.
Performance
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Overview
It is involved in the development and production of bitumen and heavy oil in northern Alberta and Saskatchewan. Its assets include Foster Creek, Christina Lake, Sunrise, Lloydminster thermal, and Lloydminster conventional heavy oil assets. The segment also jointly owns and operates pipeline gathering systems and terminals through the equity-accounted investment in Husky Midstream Ltd Partnership. In FY2024, the segment’s capital expenditure stood at CAD2,714 million, which grew 13.9% YoY.
Performance
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Overview
Includes the refining of crude oil to produce gasoline, diesel, jet fuel, asphalt, and other products at the wholly-owned Lima, Superior, and Toledo refineries; and the jointly-owned Wood River and Borger refineries. It also markets some of its own and third-party refined products including gasoline, diesel, jet fuel, and asphalt. In FY2023, the segment’s capital expenditure stood at CAD602 million, which decreased 43.2% YoY.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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