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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

Comment by Fuzman5902on Sep 08, 2021 2:06pm
147 Views
Post# 33825525

RE:RE:RE:MEG vs OIL

RE:RE:RE:MEG vs OILHow about nobody gives a rat's A$$ about Canadian Oil Companies.

Having said that it's trading close to mid range where I think it should be.

They are still 32 % hedged for the remainder of the year & 45% for the for the full year.

As of the end of July they are sitting on 182 Million of lost opportunities, with another  40 or so Million for the rest of Q3, what Q4 brings is anyone's guess

Still though even if they were only 20% hedged they wouldn't be trading that much higher.

2022 will be better for oil companies but I suspect it will need sustained oil prices into 2023 for the proverbial $hit to hit the fan.

Regards Fuz

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