Cenovus to sell light oil, oil sands properties

Light Oil Properties At Puskwa, Cenovus holds a 100% working interest in 25,728 ha of mainly contiguous land offsetting recent Montney drilling activity in the Sturgeon Lake area. The Company believes that significant volumes of oil can be produced from a Montney capillary trap (solution gas drive) reservoir. The concept has been proven by Cenovus’s seven wells (six horizontal, one vertical), of which four wells are tied in and producing approximately 100 boe/d (two-thirds oil) through the Company’s 12 km of 6″ pipeline. The Company believes that with optimized modern-style fracs, compared to those used in its early Montney completions, significantly higher production rates could be achieved. At Simonette, Cenovus holds a 100% working interest in 4,907.55 ha of mainly contiguous land offsetting recent Montney and Duvernay drilling activity in the Kaybob, Ante Creek and Kakwa areas. The land is located west of the Ante Creek North Montney Pools which ARC Resources Ltd. has been extensively developing with horizontal wells. Offsetting the southeastern edge of the Company’s land, a Duvernay oil well that was brought on in August 2014 has produced a total of over 114,000 barrels of oil and 174 MMcf of natural gas. Oil Sands Properties At Panny, Cenovus holds a 100% working interest in two oil sands leases with a total of 4,480 ha of land. The Company holds the oil sands rights from the top of the Viking Formation to the base of the Woodbend Group. The primary objective at Panny is the Bluesky Formation. At Godin, Cenovus holds a 100% working interest in three oil sands leases with a total of 20,480 ha of oil sands rights. The Company holds the oil sands rights from the top of the Viking Formation to the base of the Woodbend Group. The primary objectives at Godin are the Wabiskaw Formation and the McMurray Formation. In the Peace River area, Cenovus holds a 100% working interest in two oil sands leases with a total of 6,656 ha of land. The Company holds the oil sands rights from the top of the Peace River Formation to the base of the Pekisko Formation. The primary objective at Peace River is the Bluesky Formation. Source / Further information : Oil & Gas Product News oilandgasOil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Please email us your industry related news for publication info@OilAndGasPress.com Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook Disclaimer Most News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles OilAndGasPress welcomes all viewpoints. Should you wish to provide a different perspective on the above article, please email us info@OilAndGasPress.com ]]>

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