MEG Energy Corp T.MEG

Alternate Symbol(s): MEGEF

Energy Oil & Gas Refining & Marketing

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 > Shubham Garg O&G outlook

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Comment by churchofnutsaccon Oct 18, 2022 1:19pm

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Post# 35031831

RE:RE:RE:Shubham Garg O&G outlook

jleer42 wrote: The debt surprised me, as of the Oct presentation it is still "Once the US$1.2bn net debt target is reached MEG intends to increase the percentage of free cash flow allocated to share buybacks to approximately 50% with the remainder applied to further debt reduction"

cashtango00 wrote: appears MEG has dropped below the 1.2b debt target and is now going to be using 50% of FCF for share buy backs. I suppose it would be far more advantageous for investors if the stock hung around 15-16 to maximize that.

There's a footnote on Slide 6 of the presentation that indicates they are working off net debt as of June 30th. I'm sure we will get a clearer picture of th net debt next month.

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