RE:RE:RE:RE:BooooyahhhhhhCenovus revenue projections for the year are based on $45, $55 & $65 oil. If we average above $65 WTI, that's above their projections and we're way above that today. I see no reason why CVE can't pay off all their debt in 2023 and buy back at least 10% of the float.
Lots of talk of oil going to and above $100 in the next couple years. At that price, CVE will wipe out their debt in a very short time. We all know how volatile oil can be but demand is very strong and supply is tight in a market that still hasn't recovered. Airline travel, Transit, Driving to work way down. Fact is, if we were living in a pre pandemic world, we would be struggling to produce enough oil to meet the demand. There simply isn't enough spare capacity as we already can see from OPEC's production numbers.
My personal opinion is we should be trading at $25+ today. Looking forward to Feb results and what AP has to say.