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 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.

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MEG Energy Corp > RBC Greg Pardy SEES MEG OUTPRICING CVE In 2024

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Comment by vwbusmanon Oct 15, 2023 7:50am

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Post# 35684176

RE:RE:RE:RE:RE:RE:RBC Greg Pardy SEES MEG OUTPRICING CVE In 2024

Not sure how your math works on that - if you reference numbers from Q2:

Financial Performance Adjusted Funds Flow $278mm ($0.96/share)
Capex $149mm
Free Cash Flow $129mm
Debt Reduction $54mm
Share Buybacks $66mm

If we follow the same rough ratios as the above, then $470 in Adjusted Funds Flow would result in about 91 million or so in debt reduction

According to SEDI insider transacations, MEG has paid off $65 million in debt from July 1 to Sep 30

(they have already paid $35 million in debt just in the first two weeks of October - great news!)

I would hazard to guess we are looking at mid 2024 as the timeline for hitting the $600 million debt target

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