Capital Markets | Capital Expenditure | Capital Expenditure - 2020 | 2020 Guidance
Cenovus Boosts Capex 22% for 2020; Oil Sands, Deep Basin Investment Up
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Cenovus Energy Inc. has detailed its 2020 capital plans.
Highlights: Total capital expenditures of $1.4 billion - up 22% from 2019 Total production increase of 7% to 484 MBOEPD (midpoint)The only area where Cenovus will be cutting costs is in its 'corporate' area - which likely means a decrease in G&A expenses (job cuts and consolidation).
The company's commentary for plans by area (oil sands and Deep Basin) can be found below the chart.
Oil sandsCenovus has among the best assets in the in-situ oil sands industry with top-tier resources, industry-leading steam to oil ratios and low operating costs. The company’s oil sands facilities have a proven track record of consistently delivering safe and reliable operating performance, which will continue to be a focus in 2020.
The company…
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