One million barrels per day.

It’s a big, round production number, and one that Cenovus Energy expects to exceed for the month of July — breaching the level for the first time — by pumping out one million barrels of oil equivalent (boe) per day.

The Calgary-based heavyweight becomes only the second petroleum producer in the country to scale that mountain, joining Canadian Natural Resources, which exceeded 1.6 million boe per day in the first quarter and reached the million level back in 2017.

This underscores the global scale of the country’s largest oilsands producers.

SUBSCRIBER EXCLUSIVE: FP West: Energy Insider brings you behind the oilpatch’s closed doors with exclusive insights from insiders every Wednesday morning.

There was an error, please provide a valid email address.

By signing up you consent to receive the above newsletter from Postmedia Network Inc.

A welcome email is on its way. If you don't see it, please check your junk folder.

The next issue of FP West: Energy Insider will soon be in your inbox.

We encountered an issue signing you up. Please try again

Interested in more newsletters? Browse here.

And Cenovus CEO Jon McKenzie sees the potential for more growth in Canada, following a three-way agreement with the federal and provincial governments and the Oil Sands Alliance to advance the Pathways carbon capture network, and increase output to help fill a proposed pipeline to the B.C. Coast.

While those megaprojects will require billions of dollars, contemplate just how significant the other figure — one million barrels a day — is for Canada, the fourth-largest oil producer in the world, as output continues to climb.

“It’s a big number. I mean, it exceeds most producing countries’ output,” energy economist Peter Tertzakian, founder of Studio.Energy, said of Cenvous reaching the million-barrel-a-day threshold.

“It’s a big milestone. Any small company dreams about getting to 100,000 barrels a day . . . and for a large cap (producer) to get to a........

© Calgary Herald