Cenovus Energy CVE expects to invest between $2.8 billion and $3.1 billion in 2014, a
13% decrease when compared with the previous year. The company is
focusing its capital on oil projects that are anticipated to provide
production growth over the next four years.
"Since our launch in late 2009, Cenovus has concentrated on gaining
regulatory approvals for our robust inventory of oil sands
opportunities while also growing oil reserves," said Brian Ferguson,
Cenovus President & Chief Executive Officer. "In 2014, we will focus on
investment that will achieve cash flow and earnings growth from our
approved projects in order to create the greatest value possible for
shareholders."
See full press release
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