Cenovus Energy traded at 35.02 this Tuesday March 24th, increasing 1.02 or 3.00 percent since the previous trading session. Looking back, over the last four weeks, Cenovus Energy gained 16.69 percent. Over the last 12 months, its price rose by 70.75 percent. Looking ahead, we forecast Cenovus Energy to be priced at 33.62 by the end of this quarter and at 31.17 in one year, according to Trading Economics global macro models projections and analysts expectations.
Cenovus Energy Inc is a Canada-based integrated oil and natural gas company. The Company's operations, include oil sands projects in northern Alberta and oil production in Alberta and British Columbia. The Company is owner of two projects that are producing oil, Christina Lake and Foster Creek. The oil sands projects use a drilling method called steam-assisted gravity drainage or SAGD for short. The SAGD process uses natural gas to heat water into steam, which helps The Company to extract the oil out of the oil sands. The company also holds interest in two United States refineries, Wood River located in Roxana Illinois and Borger located in Borger Texas.