Cenovus Energy Inc T.CVE

Alternate Symbol(s): CVE | CVE.WS | T.CVE.WT | T.CVE.PR.A | CNVEF | T.CVE.PR.B | T.CVE.PR.C | 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. Its Downstream segment consists of Canadian Manufacturing, and United States Manufacturing. The Company's upstream operations include oil sands projects in northern Alberta, thermal and conventional crude oil, natural gas and natural gas liquids (NGLs) projects across Western Canada, crude oil production offshore Newfoundland and Labrador and natural gas and NGLs production offshore China and Indonesia. The Company's downstream operations include upgrading and refining operations in Canada and the United States, and commercial fuel operations across Canada.

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Cenovus Energy Inc > Valid reason for the charge

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Post by soundandfuryon Feb 09, 2022 5:27pm

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Post# 34414411

Re: Valid reason for the charge

Cve said they would need to spend this amount about every 5 years..........lets assume the refinery has a lifespan of 50 years ......so that is 10 times what they spebd this year plus inflation.........this would theoretically cause the current value of this asset to be impaired by that amount......presumably $1.9 billion.........but the taxes saved by this impairment will be huge over time

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