RE:Cash flow sensitivity to oil prices.I think it's interesting to note that while they've hedged off a lot of their 2021 WTI exposure (I'd guess roughly half at around C$57), 3750b/d in the second half, they're un-hedged on the liquids side for all of 2022, as of the last update.
And while 2022 WTI pricing isn't great yet (it's just starting to crack US$60), the ability to layer on those hedges now, with spot at C$80/b and futures at maybe C$70-75/b, that flows right to the bottom line in a material way above the US$55/b projection for 2021 and beyond.
I'd love to see prices for WTI and AECO hold around $60 and $2.50 for this plan to come to fruition instead of a blow off the top rise that could fizzle before they can either hedge or reduce debt in a material way.