Cenovus oil sands production soars, profits dip
Jul 25, 2012 at 7:32 am in Business, News by tyler.king
Cenovus’s second quarter profits dropped 40% compared to last year.
Net earnings were still just short of 400 million dollars for the quarter, with oil sands production much higher.
Its Christina Lake and Foster Creek oil sands projects saw a 38 percent jump in production to more than 80 thousand barrels per day.
It’s expecting to start production at Christina Lake’s phase D in the upcoming quarter.
Published July 25, 2012