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MEG Energy Corp MEGEF


Primary Symbol: T.MEG

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 transports and sells thermal oil (AWB) to customers throughout North America and internationally. The Company owns a 100% interest in over 410 square miles of mineral leases in the southern Athabasca oil region of Alberta, Canada and is primarily engaged in sustainable in situ thermal oil production at its Christina Lake Project. Christina Lake Project is a multi-phased project, located 150 kilometers south of Fort McMurray in northeast Alberta. It comprised of approximately 200 square kilometers of leases.


TSX:MEG - Post by User

Comment by churchofnutsaccon Dec 09, 2022 1:35pm
228 Views
Post# 35162172

RE:RE:RE:RE:Over

RE:RE:RE:RE:Over
cashtango00 wrote: Not sure where you get your numbers from but MEG is nowhere near 2 bucks EPs at 70 oil.  WCS has little to do with SPR now as SPR is down to a trickle compared to months ago.  WCS is landlocked oil that can't get out fast enough. there is no quick fix on that one.  TMX will help in a year.   i like the de leverage but the interest saved is lost on the increasing royalties hitting q1.  MEG needs 80-90 oil to look good



Let's look at 2020, which was a terrible year. Meg's production was 82,000 boe/d, had netbacks of $19 and generated $130 million of free cash flow.

I don't think anybody is forecasting $19 netbacks for Meg next year, even with WCS blowout and higher royalties.

For 2023 Meg will be producing at least 100,000 boe/d and there will be at least 17-19 million less shares than there was in 2020.

Meg can continue to chip away at debt, even during a downturn. Meg has completely transformed itself over the past few years with rapid deleveraging and now even a steady reduction in shares.




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