The O2 sensor is used for calculating air-to-fuel ratio. How?.. The ECU knows precisely how much fuel enters in each cylinder because it controls the injector pulse for every cylinder. It also knows how much air went in because the MAF sensor reports it. Yet, this is still not enough to ensure that the combustion event occurred at maximum efficiency. If the spark was delayed or advanced too much, the fuel may have not burned fully. The O2 sensor acts as a snitch to the ECU by telling it how well the fuel was burned.
Furthermore, the vast majority of modern engines have wideband O2 sensors. Those sensors have much quicker response and wider signal range. This means that the ECU can actually distinguish between the exhaust gases of each individual cylinders as they pass next to the O2 sensor.
The pre-cat (hot) sensors are used to adjust the short term fuel trims which are primarily used for making sure the engine runs right. The post-cat O2 sensors are used to ensure the catalytic converters are working as expected AND also to adjust the long term fuel trims which generally are used for fuel efficiency.
Since this engine is a V6 with two banks of exhaust headers, it stands to reason that there are totally of 4 O2 sensors. Two are pre-cat and two are post-cat.
Hope this makes sense.