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MEG Energy Corp T.MEG

Alternate Symbol(s):  MEGEF

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

Bullboard Posts
Comment by shambano1on Sep 01, 2016 8:35am
120 Views
Post# 25198416

RE:Winter is coming, oil under 40 bucks

RE:Winter is coming, oil under 40 bucksI doubt very much Meg is anywhere near bankruptcy. By now I'm sure they already have one of more offers for their share of access pipeline and if oil.prices don't get over 44-45 by 2017 then they can sell access quickly but for now they will prefer to wait and see higher oil prices in 2017. Secondly they continue to lower operating and capex costs, so capex in 2017 could be as low as 100 million which means they can live within cash flow at 50 wti or maybe even.lower depending on USD and differential prices. Yes it's a tuff market and yes Meg looks like risky play and it is to a degree but they have levers to pull it needed. Bankruptcy is plain scare tactics. Glta
Bullboard Posts