RE:NOT GOOD!!! MEG’s capital structure is “UNTENABLE”!!!UNTENABLE can also mean they can't prevent an unwanted takeover at a lower valuation than the Board would like to see.
then again a sale of access pipeline will go a long way to help with the higher debt levels, but as the shorts are telling us, nobody wants to be a pipeline.
let's see between SUN and IMO and CNQ we ahve some of biggest oilsands operations in canada and the world, and these companies will make a profit on these operations over the long term but short term there is some pain.
of course IMO and SU have refinining and marketing and products that they produce and sell at good mark ups, but they are buyers are high quality assets for long term development.
the strength of MEG is their low capital requirements and low brownfield capital expansions if they decide to do those in 2017 at some point if oil prices can show some strength.
they don't require billions to maintain produciton and billions to expand produciton, the shale bubble is exploding and they can't keep up the drilling to maintain produciton levels, and every one is cutting back drilling at these prices.
so is MEG a takeover candidate???
the shorts say nho it's goign bankrupt, but maybe an acquire would want you to beleive that statement and it means they can buy MEG even cheaper.
what kind of cut-throat game is being played in these markets??