RE:RE:Just a hunch......Pure speculation on my part.
Yes, MEG does look really good here.
Over 100k bbl/day of very low cost producion, attactive tax pools & they really took a chunk off the debt last year.
Sometimes these names trade like something brewing and then nothing happens.
Maybe they talk about potential deals but cant agree on valuations.
Imperial oil getting hit hard as well lately.
Maybe they are looking at that Irving refinery with all those gas stations.
Its a prized asset no doubt, for the right price.
Dont believe the feds will allow the country's largest refinery to not remain Cdn owned.
Parent Exxon does own 70% of IMO but head office jobs based here and all taxes are paid here.
Exxon could supply it with the 300k bbls/day from their US production through the Northeast.
Refining is an Exxon strength. They know this business. 5M bbls/day worldwide capacity.