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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 churchofnutsaccon Oct 25, 2022 10:14am
280 Views
Post# 35046371

RE:RE:RE:RE:MEG - #1 Top Pick on BNN Market Call - Eric Nuttall

RE:RE:RE:RE:MEG - #1 Top Pick on BNN Market Call - Eric Nuttall
cashtango00 wrote: My facts are a lot more accurate then nuttalls fantasy land.  Go back 6-9 months and listen to his forecast for energy price deck and wcs spread.  Ridiculous.  Now his Wcs spread is 10 for 2023.  If you think that is a realistic number, you clearly out of touch with the industry.  He is either a terrible forecaster, or a massive pump artist. My guess is the later. 


He, like all of us, underestimated the impact that SPR dumping would have on WCS. The differntials, in theory, should tighten as the SPR dumping ends at some point. Though my view on it is that they will keep dumping next year but we will have to wait and see. Either way, oil and WCS is a beach ball under water.

In my opinion he is overly optimistic about the price of WTI next year but would love to be wrong on that.

As long as Meg can keep deleveraging and buying back a few shares here and there during an economic downturn, we are good to go.
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