MEG Energy Corp T.MEG

Alternate Symbol(s): MEGEF

Energy Oil & Gas Refining & Marketing

MEG Energy Corp. is a Canada-based energy company focused on in-situ thermal oil production in the southern Athabasca oil 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 economic recovery of oil. 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

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Comment by quintessenceon May 25, 2016 11:40am

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Post# 24903051

RE:RE:oil inventories fell 4.23 million barrels

I can't see oil trading below $44 nor above $50 for the next while. Everyone seems to believe that oil above $50 will possibly encourage new production and with historic oil stocks around the world I believe the traders will punish the oil price below $50.
Interestingly production imputs fell again last week by around 99,000 barrels of oil per day. Production trend continues downward and that will continue to support higher oil prices.
I believe we're stuck in a range for world oil prices and MEG shares should begin to rise once again heading into next earnings. Traders won't be able to ignore the higher price of oil and the reflective better profit picture for MEG.

All IMO.

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