Aug. 15 at 5:15 AM
$CVE I present you the nuts. Happy new years. THE BIGGEST GREEN FLAG: DEBT
This is the part I emphasize now.
CVE went:
$10.63B Q1 long-term debt
↓
$8.06B net debt
↓
Q2
$5.39B net debt. That's a
$2.67B net-debt reduction in one quarter. CVE fully repaid and cancelled the remaining
$2.2B MEG acquisition term loan.
The framework is:
>
$6B: ~50% EFFF target
$6B →
$4B: ~75% EFFF target
≤
$4B: ~100% EFFF target
Q3 could put CVE extremely close to the
$4B net-debt target. ~1 million BOE/day + integrated heavy oil + refining + rapidly falling debt.
🔥 The scenario I really care CVE will actually distribute
$8B annually. That can become a valuation catalyst independent of oil prices.🚀 🌙 👽 💰 🤑
