Higher oil prices and new joint ventures helped triple Cenovus’s fourth quarter profits for 2011.
The company’s profits went up from 78 million a year ago to 266 million this time around.
Production went up about 11 percent to more than 144 thousand barrels per day.
The company also says it’s considering some offers from foreign companies to jointly develop its Telephone Lake oil sands property into a 90 thousand b-p-d project.
Published February 15, 2012
