Cenovus Energy
Encyclopedia
Cenovus Energy is an integrated oil company headquartered in Calgary
, Alberta
.
Cenovus was formed on December 1, 2009 when Encana Corporation
split into two distinct companies: one an integrated oil company (Cenovus), the other a pure play
natural gas company (Encana). The split left Cenovus with the assets formerly belonging to PanCanadian Energy Corp. and Alberta Energy Company (AEC), the two Canadian oil and gas companies that merged to form Encana in 2002 as well as a stake in 2 high quality refineries (Wood River Refinery
near St. Louis
which is the largest of the 12 refineries operated by ConocoPhillips and Borger in Borger, Texas
).
and crude oil production in Alberta
and Saskatchewan
. Cenovus uses the oil recovery method called steam assisted gravity drainage
(SAGD) at both its Foster Creek and Christina Lake projects.
The 2 refineries that Cenovus Energy has 50 percent ownership interest in Wood River
(Illinois) and Borger (Texas) operated by ConocoPhillips
were acquired in 2006 in a deal that transferred half of Encana's control in Foster Creek and Christina Lake to ConocoPhillips.
Cenovus Energy operates the world's largest geological CO2 sequestration
project in Weyburn, Saskatchewan. Since the start of CO2 injection in 2000, more than 15 million tonnes of CO2 have been sequestered at Weyburn. The project is the site of a world-scale research initiative operated under the auspices of the International Energy Agency
, which studies the sequestration of CO2 in an oil reservoir.
Calgary
Calgary is a city in the Province of Alberta, Canada. It is located in the south of the province, in an area of foothills and prairie, approximately east of the front ranges of the Canadian Rockies...
, Alberta
Alberta
Alberta is a province of Canada. It had an estimated population of 3.7 million in 2010 making it the most populous of Canada's three prairie provinces...
.
Cenovus was formed on December 1, 2009 when Encana Corporation
EnCana Corporation
Encana Corporation is one of North America's largest natural gas producers, with about 95 percent of its production being natural gas. Its strategy is to be the lowest-cost, highest-growth senior natural gas producer in North America. The company produced approximately of natural gas in 2010.The...
split into two distinct companies: one an integrated oil company (Cenovus), the other a pure play
Pure play
In financial management, a pure play is a company whose shares are publicly traded and that either has, or is very close to having, a single business focus. Coca-Cola is an example of a pure play in this context because it retails only beverages...
natural gas company (Encana). The split left Cenovus with the assets formerly belonging to PanCanadian Energy Corp. and Alberta Energy Company (AEC), the two Canadian oil and gas companies that merged to form Encana in 2002 as well as a stake in 2 high quality refineries (Wood River Refinery
Wood River Refinery
The Wood River Refinery is an oil refinery located in Roxana, Illinois, approximately north of St. Louis, Missouri, on the east side of the Mississippi River. The refinery is currently owned by ConocoPhillips and Cenovus Energy, and operated by the joint-venture company WRB Refining, LLC...
near St. Louis
St. Louis, Missouri
St. Louis is an independent city on the eastern border of Missouri, United States. With a population of 319,294, it was the 58th-largest U.S. city at the 2010 U.S. Census. The Greater St...
which is the largest of the 12 refineries operated by ConocoPhillips and Borger in Borger, Texas
Borger, Texas
Borger is the largest city in Hutchinson County, Texas, United States. The population was 14,302 at the 2000 census. Borger is named for businessman Asa Philip "Ace" Borger, who also established the Hutchinson County seat of Stinnett and several other small towns in Texas and Oklahoma.- History...
).
Operations
Operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface, and natural gasNatural gas
Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...
and crude oil production in Alberta
Alberta
Alberta is a province of Canada. It had an estimated population of 3.7 million in 2010 making it the most populous of Canada's three prairie provinces...
and Saskatchewan
Saskatchewan
Saskatchewan is a prairie province in Canada, which has an area of . Saskatchewan is bordered on the west by Alberta, on the north by the Northwest Territories, on the east by Manitoba, and on the south by the U.S. states of Montana and North Dakota....
. Cenovus uses the oil recovery method called steam assisted gravity drainage
Steam assisted gravity drainage
Steam Assisted Gravity Drainage is an enhanced oil recovery technology for producing heavy crude oil and bitumen. It is an advanced form of steam stimulation in which a pair of horizontal wells are drilled into the oil reservoir, one a few metres above the other...
(SAGD) at both its Foster Creek and Christina Lake projects.
The 2 refineries that Cenovus Energy has 50 percent ownership interest in Wood River
Wood River Refinery
The Wood River Refinery is an oil refinery located in Roxana, Illinois, approximately north of St. Louis, Missouri, on the east side of the Mississippi River. The refinery is currently owned by ConocoPhillips and Cenovus Energy, and operated by the joint-venture company WRB Refining, LLC...
(Illinois) and Borger (Texas) operated by ConocoPhillips
ConocoPhillips
ConocoPhillips Company is an American multinational energy corporation with its headquarters located in the Energy Corridor district of Houston, Texas in the United States...
were acquired in 2006 in a deal that transferred half of Encana's control in Foster Creek and Christina Lake to ConocoPhillips.
Cenovus Energy operates the world's largest geological CO2 sequestration
CO2 sequestration
Carbon sequestration is the capture of carbon dioxide and may refer specifically to:* "The process of removing carbon from the atmosphere and depositing it in a reservoir." When carried out deliberately, this may also be referred to as carbon dioxide removal, which is a form of geoengineering.*...
project in Weyburn, Saskatchewan. Since the start of CO2 injection in 2000, more than 15 million tonnes of CO2 have been sequestered at Weyburn. The project is the site of a world-scale research initiative operated under the auspices of the International Energy Agency
International Energy Agency
The International Energy Agency is a Paris-based autonomous intergovernmental organization established in the framework of the Organisation for Economic Co-operation and Development in 1974 in the wake of the 1973 oil crisis...
, which studies the sequestration of CO2 in an oil reservoir.