Cenovus's Diversified & Resilient Business Model
LLOYDMINSTER REGIONAL OPPORTUNITY
Unlocking production through innovation and technology
Mbbls/d
60
60
50
50
40
40
30
20
10
Conventional Heavy Oil growth potential¹
$/bbl
50.00
40.00
•
30.00
20.00
10.00
Lowering cost structure
Investment drives per unit operating costs nearly
$20/bbl lower in the five-year plan.
ARO program reduces per unit operating costs an
additional $6 - $7/bbl in the five-year plan.
Includes 4,000 wells by 2033.
Implementing gas management strategy on existing
and new development wells to lower GHG intensity
and absolute emissions.
0
2024F
2025F
2026F
2027F
Potential development
I Development in plan
2028F
0.00
Operating cost per barrel
Short-cycle asset provides optionality to reduce costs and accelerate development
Note: See Advisory. 1) Potential development is not included in the five-year plan. 2) At US$ 75 WTI.
cenovus
ENERGY
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