Cenovus Energy's big, bad bet on oil prices leaves it with massive $914-million net loss
Author of the article: Geoffrey Morgan Postmedia Publishing date: May 03, 2018 • May 3, 2018 • 3 minute read Article content A big, bad bet on oil prices hurt Cenovus Energy Inc. Apr. 25, as the oilsands producer posted a massive net loss thanks in part to a hedging program that the company vowed never to repeat. “I don’t think you will ever see this company hedge at the very high levels that you’ve seen this year and in the back half of last year,” Cenovus president and CEO Alex Pourbaix said in an interview, after his company announced a $914 million net loss for th...
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