Cenovus Energy expects to invest $3.2B-$3.6B in oil assets in FY13

theflyonthewall.com

Cenovus expects continued robust growth in oil production in 2013, mainly due to expanded capacity at its Christina Lake oil sands operation. Investment in the company's other oil operations is also expected to start paying off with production increases anticipated next year. Cenovus is anticipating strong total cash flow of between $3.1B and $4B in 2013. The company's oil production and refining operations are expected to generate the majority of operating cash flow.

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