MEG Energy Corp T.MEG

Alternate Symbol(s): MEGEF

Energy Oil & Gas E&P

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

MEG Energy Corp

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Comment by kingshaneon Mar 23, 2020 10:12am

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Post# 30837069

RE:RE:RE:RE:RE:MEG vs CVE?

MEG has a 4-year runway until its next debt maturity represented by the remaining US$600 million of March 2024 notes.

Just in case: The total borrowing capacity available is $1.3 billion, comprised of $800 million under the revolving credit facility and $500 million under the letter of credit facility. The facilities contain no financial maintenance covenants unless MEG has drawn in excess of $400 million under the revolving credit facility.

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