| Document Date: 2014-12-10 21:48:16
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City Calgary / Grand Rapids / Chicago / / Company Phillips66 / Page 3 2015 Budget Capital / ConocoPhillips / Cenovus Energy Inc. / Total capital / Energy East / / Country United States / / Currency USD / / Event General or Shareholder Meeting / Conference Call / Dividend Issuance / FDA Phase / Funding / M&A / / Facility Cold Lake pipeline system / Flanagan South pipeline system / Wood River Refinery / Energy East pipeline / Borger Refinery / / IndustryTerm volatile oil price environment / energy industry / transportation / transportation options / lower crude oil prices / natural gas assets / experienced strong average oil production rates / transportation costs / higher oil volumes / conventional oil opportunities / oil / manufacturing approach / value chain / oil price environment / tight oil assets / heavy oil / weaker oil prices / conventional oil / oil sands / oil and gas operations / per-barrel transportation costs / oil value chain helps / conventional oil production / Oil transportation costs / heavy oil blend / higher per-barrel transportation costs / less purchased product / oil hub / technology projects / higher perbarrel transportation costs / oil production / oil equivalent / low oil price environment / oil assets / oil prices / transportation strategy / lower energy prices / heavy oil assets / conventional oil projects / / NaturalFeature Wood River / Foster Creek / West Coast / p.m. MT / Christina Lake / Gulf Coast / / Person Brian Ferguson / / / Position President & Chief Executive Officer / / Product Narrows Lake / Board / Creek3 / / ProvinceOrState Alberta / Saskatchewan / Oklahoma / / Region U.S. Gulf Coast / West Coast / West Texas / / Technology Wedge WellTM technology / /
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Cenovus announces 2015 budget Company to focus on high-return projects, capital discipline Calgary, Alberta (December 11, 2014) – Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) plans to exercise capital restraint in the y