MEG Energy Corp T.MEG

Alternate Symbol(s): MEGEF

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 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.

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MEG Energy Corp > Dennis da Silva's Top Picks - MEG

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Comment by Possibleidiot01on Nov 15, 2023 2:44pm

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Post# 35737532

RE:Dennis da Silva's Top Picks - MEG

MEG Energy (MEG TSX)

Intermediate heavy oil producer that has excellent leverage to oil differentials normalizing in 2024 as the Trans Mountain pipeline goes online. Long-life, low-decline, scalable oil sands company that is unique for mergers and acquisitions. Near-term price support from possible inclusion to the MSCI Canada Index on Nov. 30 (announced Wednesday). Solid egress options such as the U.S. Gulf Coast with over 70 per cent of third quarter volumes sent there. Inflection point in 2024 where strong free cash flow will bring debt to target by mid-2024. Shareholder returns shift from 50 per cent to 100 per cent of free cash flow at that point, through buybacks that could reach eight per cent of stock outstanding.

stockchase.com

TOP PICK

Pure play on heavy oil. Long-life, low-decline, very scalable assets. Production easily doubled due to size of resource. Highly leveraged to any upside in oil. Sightline to greater ROC of 50-75% via share buybacks. High quality. M&A candidate for Suncor. No dividend.

(Analysts’ price target is $30.92)

oil / gas

N/A