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MEG Energy Corp T.MEG

Alternate Symbol(s):  MEGEF

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.


TSX:MEG - Post by User

Bullboard Posts
Post by shambano1on Aug 31, 2016 2:11pm
120 Views
Post# 25196322

Weekly supply numbers

Weekly supply numbers The weekly oil supply numbers are not really that negative in my view. The tanks are importing more and more oil every week and making it look.like we have lots of supply but the rest of the world is Actually decreasing storage , so we are getting to more of a balanced market. But weekly storage builds scare trader or speculators into selling down oil and prices drop. The gasoline supply was still a draw and demand is still.pretty good at 1.5 percent ahead of last year. No one is expecting a freeze deal which means it will happen this time. So wait a few more weeks before you buy back into oils, I'm not sure we have bottomed yet. Glta
Bullboard Posts