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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.


TSX:CVE - Post by User

Cenovus Energy Inc > HORRIBLE BROKEN PROMISE !!! Alex, Your Second BLACK STAR !!!
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Comment by oilandgasmickon Apr 04, 2022 11:49am
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Post# 34573263

RE:RE:RE:RE:HORRIBLE BROKEN PROMISE !!! Alex, Your Second BLACK STAR !!!

RE:RE:RE:RE:HORRIBLE BROKEN PROMISE !!! Alex, Your Second BLACK STAR !!!Max---Thanks for that great explanation on how hedges actually work. Sure you give up some potential profit but people forget that 18 months ago WCS was in negative territory and the very survival of companies like HSE and CVE were in doubt. I don't think that survival is in doubt now but when survival is in doubt you put some hedges in place.

The cash flow for the quarter will still be enormous and the crack spreads at 20 bucks plus will also help when you have the sort of refining capacity that the company has now.

Also, correct me if I am wrong but hedging losses can also be used to offset profits for the purposes of income tax? That tax bill will probably be pretty substantial this year.

Lastly, as I asked earlier on the thread--what percentage of the CVE oil production was actually hedged?
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