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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.


TSX:MEG - Post by User

MEG Energy Corp > Meg buybacks for May
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Comment by Tothemoon2on Jun 23, 2024 12:57pm
99 Views
Post# 36102287

RE:RE:RE:Meg buybacks for May

RE:RE:RE:Meg buybacks for May
ztransforms173 wrote: - MAYBE (?) they PAUSED NCIB as crude oil prices DECLINED

- BUILDING UP CASH BALANCE to EXECUTE further 2027 7.125% NOTE BUYS as they BECOME AVAILABLE in the BOND MARKET

* the 2027 NOTES are INCREASINGLY DIFFICULT to BUY as the BOND POOL CLASS becomes SMALLER

- in the NEAR FUTURE, they will have to SWITCH to BUYING the 2029 5.875% Notes {USD 600 million} as the REMAINING 2027 Notes 'MIGHT' NOT FOR SALE

z173


As far as bond purchases go, Meg has to pay over par price by 1.5% roughly if they call the 2027 bond and it looks like market purchases are around that price too.  ON THE OTHER HAND the last trades I see for the 2029 bonds are trading below par value (97.5% to 96% in April) and can be bought saving even more.  I say wait to call the 27 notes until Feb 25 and then pay par and start skimming some 2029 notes now as they see fit.
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