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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (115345)	2/8/2022 9:08:07 AM
From: Goose94	Read Replies (2) of 202958

Cenovus Energy (CVE-T) is raking it in thanks to the rally in energy prices. Free funds flow in the fourth quarter hit $1.1 billion, compared to just $91 million a year earlier. And the company chipped its long-term debt down to $12.385 billion. That’s not to say it was a spotless quarter. The company’s net loss more than doubled to $408 million thanks to a $1.9-billion impairment in its U.S. manufacturing division. Cenovus also said it ran into “operational challenges” at the Lima refinery it inherited in the Husky deal. We’ll pause here to point out that West Texas Intermediate crude has drifted below US$90 per barrel this morning. BNN.ca

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