Cenovus Energy Inc. emerged as the top driller in Western Canada during Q1 2025, maintaining robust activity levels across its oil sands and conventional heavy oil assets. The company recorded 266 drilling operations in Q1 2025, marking a 9% increase from 244 in Q1 2024 Oil Gas Leads.

🔍 Drilling Operations Breakdown

The drilling operations in Q1 2025 were distributed as follows:

Horizontal Wells: 133
Vertical Wells: 75
Directional Wells: 43

The dominance of horizontal drilling reflects Cenovus’s focus on efficient resource extraction, particularly in its oil sands operations. The significant number of vertical wells indicates ongoing development in conventional heavy oil fields, such as those in the Lloydminster area.

⚙️ Operational Highlights

Cenovus maintained a steady rig count of 19 in Q1 2025, demonstrating consistent operational capacity Oil Gas Leads. The company’s drilling activities were supported by major contractors, including Precision Drilling and AKITA Drilling Ltd., which have been instrumental in executing Cenovus’s drilling programs.

📈 Production and Capital Investment

Looking ahead, Cenovus forecasts an upstream production range of 805,000 to 845,000 barrels of oil equivalent per day (BOE/d) for 2025, representing a 4% increase compared to 2024 Cenovus Energy. This growth is underpinned by significant capital investments, with a planned expenditure of $4.6 billion to $5.0 billion in 2025. Key projects include the Narrows Lake tie-back, expected to achieve first oil by mid-2025, and the Foster Creek optimization project, which is progressing towards its 2026 startup Cenovus Energy.

🧪 Well Substance Focus

Cenovus’s drilling activities continue to target a mix of oil and gas resources. The company’s oil sands operations primarily focus on bitumen extraction, while its conventional drilling targets heavy oil and associated gas reserves. This diversified approach ensures a balanced production portfolio, catering to varying market demands.

Cenovus Energy’s performance in Q1 2025 underscores its strategic focus on operational efficiency and resource development. With a strong foundation in both oil sands and conventional operations, the company is well-positioned to meet its production targets and deliver value to stakeholders in the coming years.