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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

Comment by Maxmoeon Apr 04, 2022 1:11pm
250 Views
Post# 34573648

RE:Hedgeing oil is like selling your cve stock @ $10.00

RE:Hedgeing oil is like selling your cve stock @ $10.00Ughh. I'm almost ready to say frack it, just sell cve, but you better not buy any other oil company, mining company, agri biz,etc etc because most commodity producers use hedges to lock in high prices and protect the downside. Especially if they are beholden to banks. Cve is gushing so much cash right now they are felling cocky enough not to hedge because they've paid down so much debt. So how much they have hedged is irrelevant as per the last news release because they will have zero after q2. I quote "Cenovus plans to close the bulk of its outstanding crude oil price risk management positions related to WTI over the next two months and expects to have no significant financial exposure to these positions beyond the second quarter of 2022." 
soundandfury wrote: And then the cve stock rises to $20.00..........if your average cost was say $6.00 you made a $4.00 profit but if you had held your shares you would have got $20.00 for a $14.00 profit instead of $4.00 realized profit.................my 2 cents on hedge losses


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