Drew Zieglgansberger, Senior Vice President, Operations Shared Services of Cenovus Energy Inc. (CVE) Interviews with Wall Street Transcript

Wall Street Transcript

67 WALL STREET, New York - February 5, 2013 - The Wall Street Transcript has just published its Oil & Gas: Exploration & Production Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Capital Expenditures and Consolidation Activity - Refining Crude Price Differentials - Frontier Exploration and Development - Shale Drilling Capital Expenditures - Oil Price Expectations - Oil and Gas Transportation Infrastructure Demand - Shale Drilling Dynamics - Shale, Offshore and Deepwater Drilling

Companies include: Cenovus Energy Inc. (CVE) and many more.

In the following excerpt from the Oil & Gas: Exploration & Production Report, Drew Zieglgansberger, Senior Vice President, Operations Shared Services discusses the outlook for his or her company for investors:

TWST: Could you begin with a brief historical sketch of the company and a picture of the things you're doing at the present time?

Mr. Zieglgansberger: We're a Canadian integrated oil company, formed in December of 2009, when we were split out from Encana. We may be a new name, but we're very long in the tooth as far as industry experience. We're focused on oil growth overall, with a particular focus in oil sands.

We're a little unique in that space, because we drill for oil using a technology known as SAGD, or steam-assisted gravity drainage. We have no mining operations, so the big trucks or shovels that you often see on television and the tailings ponds, that is not us. We are focused on the oil sands that are too deep to mine, and that's where we're going to be developing for the long term.

We've got two major producing oil sands projects at the moment, Foster Creek and Christina Lake. We are going to be starting on a third later this year, Narrows Lake. We share these three operating properties with ConocoPhillips in a 50:50 joint venture partnership, but we are the operator.

In addition to our oil sands assets, we have a lot of other conventional properties throughout western Canada - again, very focused on oil. Pelican Lake is another of our big properties, using more of an enhanced oil process with polymers and different types of technology to continue to enhance oil production. We also have a lot of natural gas in the company, which is not only a good natural offset, but also generates a really good operating cash flow for us...

For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

View Comments