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.

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MEG Energy Corp > Q1 2022

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Post by rattleandhumon May 02, 2022 5:20pm

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Post# 34649153

Q1 2022

1. Record funds flow from operating activities and adjusted funds flow of $587 million ($1.87 per share)
2. Completed or announced the repayment of US$396 million (approximately $499 million) of outstanding indebtedness in the quarter
3. MEG realized an average AWB blend sales price of US$83.55 per barrel during the first quarter of 2022

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