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 Jul 26, 2016 3:08pm

80 Views

Post# 25085922

RE:RE:RE:RE:RE:looks like oil might be going under 40 again

Great earnings for 2Q is in context comparitively to 1Q.
Oil production and storage records are dismal outside of NA.
If low oil numbers are hurting NA production I wouldn't discount a 1:1 ratio production loss elsewhere in the world.
A 100k drop per month in NA could just as easily suggest a 100k barrel drop elsewhere in the world of OECD.
The latest increase in OPEC production is a drop in the bucket to prop up their declines.
Time to come to fruition. But it will come.

All IMO.

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