Cenovus Energy announces 2019 capital spending plan
CALGARY- Cenovus Energy is planning total capital spending of between $1.2 billion and $1.4 billion for next year.
The plan compares with its guidance for this year of between $1.3 billion and $1.4 billion.
Cenovus says the reduction compared with its 2018 forecast is largely due to efficiency improvements and reduced development plans as a result of the current commodity price environment.
The company says the majority of its budget for 2019 will be spent at its Foster Creek and Christina Lake oil sands operations.