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 > Missing a billion?

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Comment by MaximusGainuson Sep 05, 2022 8:18am

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Post# 34941880

RE:Missing a billion?

Yeah, this doesn't make sense for 2023. It's much better than this.

Funny numbers.
Net revenues down by $863M?
Purchased product down from $560M to $48M?
FCF down from 2060$M to $1687M?
No dividend while we move to 100% shareholder return in 2023?

Can't be right. It has to be far better than this report, yet this report is still awesome in the big picture.

MigraineCall wrote: Seems to me the latest 2023 RBC estimate for MEG is a bit low. The numbers don't add up.

The estimates for WTI are up, production up, costs down, AECO down. Either I'm missing something here, or MEG is going to surprise big time to the upside in '23.

Only about 1 year to go till 100% FCF return to shareholders on decades of proven reserves.