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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Comment by vwbusmanon May 17, 2024 6:25am

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Post# 36044870

RE:RE:RE:Me three

Sounds good - looking forward to MEG announcing they have hit that 100% FCF shareholder cash flow / debt target.

They should have the opportunity to do this fairly soon as things are much better for FCF now than Q1:

WTI of US$79.95/bbl, an improvement of approximately US$3/bbl from US$76.97/bbl experienced in Q1/24.

WCS differential strengthening to a discount to WTI of US$13.17/bbl, an improvement of approximately US$6/bbl from the US$19.34/bbl discount experienced in Q1/24"

We are almost getting US $9-10 more barrel daily then in Q1

For me, I would like to see them hold off on the dividend idea until sometime in 2025 - they can really try to make a dent in the share count and lower debt even further in the mean time

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