Cenovus Energy Inc. says its capital budget will total between $4.0 billion and $4.5 billion in 2023, including about $2.8 billion of sustaining capital. YYC
Cenovus Energy Inc. says its capital budget will total between $4.0 billion and $4.5 billion in 2023, including about $2.8 billion of sustaining capital.
The company says between $1.2 billion and $1.7 billion will be spent on optimization and growth, including the construction of the West White Rose project, optimization of its oilsands assets and opportunities in its downstream business. The budget plan came as the company said it expects total upstream production of between 800,000 and 840,000 barrels of oil equivalent per day next year, a year-over-year increase of more than three per cent.
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