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Bullboard - Stock Discussion Forum Cenovus Energy Inc CVE


Primary Symbol: T.CVE Alternate Symbol(s):  CVE.WS | T.CVE.WT | T.CVE.PR.A | CNVEF | T.CVE.PR.B | T.CVE.PR.E | T.CVE.PR.G

Cenovus Energy Inc. is a Canada-based integrated energy company. The Company has oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The Company's segments include Upstream, Downstream, and Corporate and Eliminations. Its Upstream segment includes Oil Sands, Conventional, and Offshore.... see more

TSX:CVE - Post Discussion

Cenovus Energy Inc > Q3 numbers and debt goal
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Post by vwbusman on Nov 02, 2023 7:36am

Q3 numbers and debt goal

Q3 numbers are out - debt is only down to 6.0 billion with the target of 4 billion for 100% FCF to shareholders. The warrants from the Husky deal ate up 600 million in the quarter. There is still $111 million of warrants to be purchased from the deal. About 400 million was used to pay long term debt in Q3.

So correct me if I am wrong but they should have almost 1 billion for debt reduction going ahead per quarter to we have to wait 2 more quarters to hit the debt target?

 

A little frustrating as it is always something. I think they should suspend buybacks and put all funds towards debt reduction until they hit that goal. I am also concerned the same "forgetting about income tax" issue will arise in 2024 and that will further kick the debt goal down the road.

 

They better not do any acquisitions - just stick to the plan and give us all the FCF!

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Cenovus Energy Inc