Cenovus Energy has deferred the next stages of developing its two oil sands facilities and will also reduce drilling activities in Western Canada, as part of a new C$700 million ($560 million) cut in capital spending for 2015, a company spokesman said Wednesday. “[Expansion] Phases H and G of Foster Creek and Christina Lake respectively will be deferred, while we will reduce drilling by about 50 wells in our conventional crude oil plays in southern Alberta and Saskatchewan,” Brett Harris said.
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