RE:at $57 oil Technically not true, yitearp. Q318 was profitable. EBITDA has been positive over the last 5 years. Cash flow over those 5 years: C$9.4 billion. They managed to grow revenue last year by C$500 million versus 2017 at C$3.32 billion nearly matching sales in 2014 which was a banner year for oil. We all want instant gratification but the stock market is not the place to find it. At current prices, CPG will deliver outsized capital gains over the next two years. As for the C$4 billion debt, debt/equity is .64 which is hardly onerous. CNQ's is .645, CVE .524. As per 2019 guidance, they estimate C$400 free cash flow at WTI $50to be applied to debt and the NCIB. At current WTI $57 an additional C$280 million would be generated as per sensitivity of $1 WTI change equals C$40 million change in cash flow. So before considering asset sales, projected free cash flow is about C$680 million if WTI remains in the $55-$60 range.
They managed to generate C$359 million in cash flow in Q4 despite the plunge in oil prices. They're focused on debt reduction as they have repeatedly stated. This story needs time to unfold.
If you bought this for a trade and lost a significant amount, probably time to examine and refine your trading system. If you bought it for the long-term and are sitting on huge losses, average down at today's oversold prices. To quote Buffett again: "The stock market is a device for transferring money from the impatient to the patient."