RE:No significant hedges so higher prices move right to results- they do NOT NEED to hedge as they have LARGE DOWNSTREAM REFINING operations that can CAPTURE the FULL BARREL VALUE
- H2/2023 will be a GREAT SECOND HALF for Cenovus Energy as their refineies PULL THEIR FULL WEIGHT and GENERATE SUBSTANTIAL OPERATING MARGINS as the UPSTREAM properties GO ON CRUISE CONTROL
- CVE is TURNING INTO a MONSTER CASH FLOW MACHINE with WTI is hitting USD 90 per barrel and STRONG 3-2-1 CRACK SPREADS in gasoline and diesel
- WCS is at a MOUTH-WATERING USD 71+ per barrel
z173