Canadian oil and gas producer Cenovus Energy Inc. (NYSE: CVE) said on Feb. 16 it is doing engineering and design work at two of its deferred oil sands projects in northern Alberta and it could potentially reactivate them in 2018 and 2019, respectively.The two projects, Foster Creek phase H and Narrows Lake phase A, would add up to 75,000 barrels per day (Mbbl/d) of production. That would be in addition to Cenovus’ 50 Mbbl/d Christina Lake phase G project, which the company said in December it was restarting.CEO Brian Ferguson said Cenovus has not made a sanctioning decision yet but will provide more information on capital costs and timing of a decision in June.
[Read More …]
Source: Daily Dose of ShaleDirectories.com News