I am trying to figure out how the 2021 hedges may have impacted Q4 earnings.
Even so earnings were around $1.40 per share and free cash flow $2.9 BB.
This was based on around spot oil of about $77 per barrel. (less hedges?)
FWIW. For every $1 increase in WTI, Revenue is up $225 MM.
For every increase $1 increase in Brent, Revenue up $20 MM.
Just eyeballing it, I see $90 plus for Q1 WTI. So maybe a doubling of cash flow from Q4.
Oxy is currently retiring about $700 MM in debt per month. Maybe they can double that this year?
Maybe $10 EPS is on the table. It will only take a year like this to materially improve the balance sheet towards investment rating.
Anyone know if BRK preferred strike price adjusts for dividends paid?