Company lost $69 million in its latest quarter as it more than doubled its production compared with a year ago.
Cenovus Mining News
Pourbaix replaces Brian Ferguson, who announced his retirement earlier this year following Cenovus’ $17.7 billion acquisition of oil sands and natural gas assets from ConocoPhillips.
Cenovus and Suncor fund cleantech entrepreneurs to accelerate environmental and economic solutions
As of Wednesday night, there were 63 fires burning in the area and 13 were considered to be out of control.
Current operational costs for producers have reached $37 to $40 per barrel. Benchmark U.S. crude, meanwhile, is trading at around $50 a barrel.
Oil sands production up 25%
Share price gains nearly 2%.