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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TSX:MEG - Post Discussion

MEG Energy Corp > 50/50 Returns Framework Is RIGHT ON TARGET For Q1 & Q2

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Post by ztransforms173 on Jul 27, 2023 5:36pm

50/50 Returns Framework Is RIGHT ON TARGET For Q1 & Q2

Debt Repurchases and Share Buybacks

The $129 million of second quarter 2023 FCF was primarily used for debt repurchases and share buybacks. The Corporation repurchased US$40 million (approximately $54 million) of outstanding 7.125% senior unsecured notes at a weighted average price of 102.3%. Share buybacks totaled $66 million through the repurchase and cancellation of 3.1 million shares at a weighted average price of $21.51 per share. Year-to-date the Corporation repurchased US$126 million (approximately $171 million) of outstanding 7.125% senior unsecured notes at a weighted average price of 102.2% and share buybacks totaled $169 million through the repurchase and cancellation of 8.0 million shares at a weighted average price of $21.12 per share.

z173