Cenovus's Diversified & Resilient Business Model
LOW-COST EXECUTION AND CAPITAL EFFICIENT GROWTH
Narrows Lake tie-back accessing ~450 million barrels of proven reserves¹
•
•
Increases production at Christina Lake by ~25,000 bbls/d.
Highly efficient capital relative to greenfield growth.
•
Utilizing existing steam capacity.
High-quality resource with low F&D cost and low SOR.
17 km pipeline in service mid-2025; 45% complete.
•
Total installed capital cost of ~$295MM.
Note: See Advisory. 1) McDaniel & Associates proven (1P) reserves in Narrows Lake core development area.
cenovus
ENERGY
Christina Lake and Narrows Lake region
X06
XOT
X03
X04
Christina Lake
MAY
MOT
1962
MOS
CL Plant
A01
80201
BOX
Narrows Lake
Tie-back
N12
LO
N13
B01
AD
308
G05
205
HO3
806
009
BOT
812
LEGEND
DA BOUNDARY
WP6 PADS
BASE/SPECIFIC PADS
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