Bullboard - Stock Discussion Forum 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.... see more

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TSX:CVE - Post Discussion

Cenovus Energy Inc > Re: Valid reason for the charge

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Post by soundandfury on Feb 09, 2022 5:27pm

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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Comment by RagingBull3 on Feb 09, 2022 5:38pm

ummmmm.... not sure I follow your train of thought.. It's NOT Good to "Save" paying Taxes because Your COSTS/EXPENSES so High. This reduces your Profits..... And this is what you pay taxes on. Now is you BS and writedown the asset by more than it really goes down in value.... Then Yes, you "Save" in paying taxes..... ...more

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