MEG good points and bad pointsgood points:
1-low sustain capital which means they can maintain production at current levels or even a little higher with low capital projects.
2-low decline oil produciton, again this means it costs less to maintain current production in a shale oil company that has to keep drilling to replace high declinging production. Yes they ahve made great inroads in lowering their break even costs but also don't forget that this happens on the ebst of the ebst sweet spots and those seem to be more in the permian basin than other basins.
3-low operating costs for energy and administration costs and these costs have gone down again in 2017 to some the lowest in SAGD operators. MEG has the lowest SDOR ratio in the industry.
4-high quality assets like Access pipeline and stroage facility that can be sold for cold hard cash to resolve some of the debt worrys.
5-low shares outstanding and 30% of the shares are controlled by other oil companies or investment company's.
6-JV possibilities in order to start brownfield expansions and add 29K-30K of new produciton thereby lowering costs per barrel
7- debt is coveenat light and doesn't start to amture until 2020\
BAD points
1-high debt levels
2-high debt levels
3-high debt levels
4-maybe add shorters trying to bring MEG down