RE:RE:RE:RE:RE:RE:WTI up $4.51 BTE down?Johnny Doe, Your words below.
fcf is money available AFTER capex. So if capex rises, then fcf drops. They dialed back using fcf on debt because of fx. Pretty simple. Kind of prudent.
let's say i owe you 100 bucks US. The money is owed in one year. I can pay you that money anytime I want. Currently, in cdn funds my debt you is 130. Without the debt actually changing, 100 US, in Canadian funds the amount needed to cover my debt to you coild fluctuate between 115 and 140. Why would i clear my debt to you at 140? Hedging is what it is. It enabled the company to stay alive when they had a weak balance sheet. It's not money lost, it's money not earned. It's an accounting oddity in the oil industry that doesn't exist in other industries