Bullboard - Stock Discussion Forum MEG Energy Corp MEGEF

Primary Symbol: T.MEG

Energy Oil & Gas E&P

MEG Energy Corp. is a Canada-based energy company focused on sustainable in-situ thermal oil production in the southern Athabasca region of Alberta, Canada. The Company is engaged in the development of enhanced oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the responsible economic recovery of oil, as well as lower carbon emissions. It... see more

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Comment by Moemoney42on May 01, 2023 11:02pm

RE:Disappointing

Agreed I'm not really impressed, but shouldn't one look at 'Long Term Debt" for the full picture as opposed to "net Debt" Long term has gone from $1.581 billion down to $1 ...more

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Post by PressReleaseon May 01, 2023 8:53pm

New Press Release - MEG Energy Reports 2023 Director Election Voting Results

CALGARY, AB, May 1, 2023 /CNW/ - MEG Energy Corp. ("MEG" or the "Corporation") (TSX: MEG) is pleased to announce that at its annual meeting of shareholders held on May 1, 2023 (the "Meeting"), all resolutions were approved as follows: Election of Directors Each of the nine (9) nominees listed in...read article.

Post by jleer42on May 01, 2023 6:51pm

Disappointing

They are talking about debt reduction, but are focusing on year-over-year. Net debt reduction for the quarter is $6 million USD or $8 million CAD. Shares outstanding decreased by 2.5 million ...more

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Post by PressReleaseon May 01, 2023 5:05pm

New Press Release - MEG Energy announces first quarter 2023 financial and operating results

All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen unless otherwise noted. The Corporation's Non-GAAP and Other Financial Measures are detailed in the Advisory section of this news release. They include: cash operating netback, bitumen...read article.

Comment by vwbusmanon May 01, 2023 5:43am

RE:RE:Buy backs and debt reduction in April

Even better - thanks for update post

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Comment by PabloLafortuneon Apr 30, 2023 11:15am

RE:Buy backs and debt reduction in April

SEDI seems to indicate approx 1,045,000 shares bought back and approx $26M debt redeemed.

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Post by vwbusmanon Apr 30, 2023 9:06am

Buy backs and debt reduction in April

I like how MEG is sticking with the playbook of debt reduction and share buybacks. In April, 623,000 shares were purchased and cancelled and over $18 million in debt was eliminated. Keep ...more

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Comment by jleer42on Apr 29, 2023 2:53pm

RE:RE:Don't forget

It is a consideration, but as the tax is only 2% it won't be a major one. Also, it was announced as to be the same as the US tax, which is now 1%, so it might end up being less than 2% when ...more

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Comment by PabloLafortuneon Apr 29, 2023 12:58pm

RE:Don't forget

Since buybacks start being taxed in 2024, would it not be sensible to maximize those this year?

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Comment by matt2018on Apr 28, 2023 6:53pm

RE:RE:Don't forget

Agreed, no divi. 25M shares purchased on last NCIB. Keep buying those shares to max allowed. Share buybacks + debt reduction + plus higher price of OIL, will get the stock price much higher.

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