MEG Energy Corp MEGEF

Over

[RusticHit]

Party is Over for OG stocks may be there will be a Bounce in Jan.Feb next year Until then grinding down Nut case still saying Oil in short term pain lol its been going down since March 

[cashtango00]

at some point, OPEC will step in (given this is a drop of pretty low volume) and announce a cut or something of that nature.  The fact Nuttall is still using 100 baseline is comical.  what a pumping clown. at 65-70 wti with a WCS spread of 18-20, MEG has a FCF yield in the neighborhood of 10-12% which isn't horrible, but probably prices the stock in the low 20s- which is where most

[cashtango00]

My Meg position is hedged with covered calls.  I think I will cover those short calls if the stock gets down into the 16.50 area which I see as pretty possible and then I will be just long stock.  If not, I'm ok with that too.

[Deutz9170]

Party is over??? Has the world changed its energy needs, by burning whale fat?  Have you checked the one year chart on CDN energy stocks? Or.maybe you are right! And that is why Warren Buffet has been building a massive postion in Occidental Petroleum.  He sees a massive over supply of oil in the next five years, and foresees a chance to lose billions of dollars. Thats how he operates

[Paray99]

what do you mean? The world means you, me and our neighbours.... Nobody's energy needs have been shifted as I know. And it is not going to change for another decade for sure. Oil will be there always. Other energy hacks will just co-exist in the future. That is what history telling us. No new energy discoveries replaced the older ones! Just the need increased dramatically and everyone will

[cashtango00]

I am not sure anyone is saying we aren't using oil anytime soon, it just matters what the price of the last barrel produced sells for and that comes down to demand and supply.  As the price of WTI slips into the 60s and the WCS spread has pushed a lot of producers into the mid/high 40s US and  oil sands because much less attractive. At 60 WTI, MEG produces single digit FCF. 

[Paray99]

I will not say that Nuttal is telling all the truth, there are some catches for sure, as he always project into oil trading at $100. But, it is very likely to have that price soon considering all the macro evonomics of the oil supply and demand. The fact is that almost all producers are maxed with their production capacity and though OPEC told they will cut 2M barrels, they never reached that goal

[RusticHit]

I hate to say that I told Ya Meg is Under 17 now Nutt  has Turned off Twitter Replies ,,lol all his holdings are dropping  Fast too much heat for him to handle 

[alwaysmoving]

You couldnt be more wrong.. no doubt there's a lot of uncertainty at the moment and MEG moves on larger swings than other O&G due to many factors.  But I think we need to remember a few things: - MEG has bought down substantial debt, completely different company than it was a year ago - MEG has purchased back close to 8% of its share pool this year - Completely unhedged going into

[cashtango00]

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

[alwaysmoving]

EPS should be about 1.8 on a full year at $70 oil, and even at $70 oil MEG still produces slightly over 10% FCF.  No matter how you slice it, a $20 valuation is fair even at $70 oil.  Shares are selling at a discount.  As a long term investor you need to decide is the market anticipating long term WTI at below $70 oil, or are shares just oversold due to overblown fears... I'd

[churchofnutsacc]

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

[RusticHit]

This is Under big selling pressure all the time like No . 1 stock for the shorts why ??? Nutt came and pump and after one day rally she drops to  lows again 

[churchofnutsacc]

Nuttall's tone on twitter has definitely switched. Seems to be resigned to the fact that we're going down in the near term. Since Nuttall is a trader, I fully expect that he's dumping shares here. It wouldn't be the first time. Almost guaranteed that's what's happening with Athabasca.

[cashtango00]

agree, someone with size is dumping.  you will know when the next top 3 doesn't include MEG, which isn't a bad thing.  he's definitely less buy buy buy on Twitter because he looks like a fool for how off he has been.  

[cashtango00]

ive been covering my short calls on my covered position today.  i see a ton of support at 15/15.50 so will keep covering as we drop.  if we bottom here, thats ok too but with WTI close to slipping under 70 and WCS about 44, there's no hurry to take on any positive delta 

[RusticHit]

Nutty saying he was wrong on 100 bucks Oil after trapping so many