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Msg  360183 of 440736  at  10/19/2021 12:38:49 PM  by

liltex1


 In response to msg 360178 by  extex
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Re: CVE

 I hope your right but here is what they said in 2nd quarter release:
 
In connection with the acquisition (the “Acquisition in 2017”) from ConocoPhillips Company and certain of its subsidiaries (collectively, “ConocoPhillips”), Cenovus agreed to make quarterly payments to ConocoPhillips during the five years ending May 17, 2022, for quarters in which the average Western Canadian Select (“WCS”) crude oil price exceeds $52.00 per barrel during the quarter. The quarterly payment will be $6 million for each dollar that the WCS price exceeds $52.00 per barrel. The calculation includes an adjustment mechanism related to certain significant production outages at Foster Creek and Christina Lake, which may reduce the amount of a contingent payment. There are no maximum payment terms. As at June 30, 2021, $90 million is payable under this agreement (December 31, 2020 – $nil). 


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Replies
Msg # Subject Author Recs Date Posted
360290 Re: CVE extex 3 10/19/2021 7:49:29 PM
360362 Re: CVE ScottMc 4 10/20/2021 5:33:51 AM




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