RE:Stay focused - The future is BrightSpanito, good reminder, 1 month until Q2 results which last year were on Jul 23.
Key in above for me was the sentence:
"
At current commodity prices, Cenovus expects to approach its net debt target (of CAD10 bln) by year end. And that: For every one USD = extra CAD250 mln/yr in Adjusted Funds Flow
That Q1 Results announcement was published May 7, 2021. when current WTI was USD65/bbl.
1) Q2: Assuming avg (USD65 + current USD73)/2 = 69 so extra USD4 x CAD250 / 4 for quarter = extra CAD250 mln.
2) Q3 Assuming current USD73 = USD8 extra x CAD250 mln / 4 for quarter = extra CAD500 mln
3) Q4 Assume same as Q3
Total = CAD1.25 bln
So CVE could hit CAD10 net debt well ahead of end 2021. . . optimizations, asset sales, etc would further acelerate the time line.