Cenovus Keeps Capex Unchanged for 2018, Plans to Cut Work Force

SUGAR LAND--December 15, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--Cenovus Energy Incorporated (TSX:CVE) (Calgary, Alberta) is keeping its planned capital spending for 2018 largely in line with its expected total spending for the current year, as it plans to cut 15% of its workforce and pay off long-standing debts. The company plans to invest between $1.5 billion and $1.7 billion in 2018, mostly to maintain production at its operations in the Alberta oil sands. Industrial Info is tracking $4.3 billion in active projects involving Cenovus, including more than $1.6 billion under construction.

Within this article: Details on some of Cenovus' highest-valued projects, including expansions at its Christina Lake facility in Alberta.

Other companies featured: ConocoPhillips (NYSE:COP), Whitecap Resources Incorporated (TSX:WCP)