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MEG Energy Corp T.MEG

Alternate Symbol(s):  MEGEF

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

Comment by HighOctane89on Nov 09, 2022 6:41pm
379 Views
Post# 35086885

RE:Q3 Results

RE:Q3 ResultsThe numbers look good on the quarter with production of 102,000 bpd and 66% of sales volume sold at the US gulf coast . Impressive FCF and that they hit their debt target over 6 weeks ago , that means MEG has and will operate the entire Q4 on a 50/50 split between buybacks and debt reduction . This quarter supports the takeover therory as buying MEG would be a simple bolt-on acquisition of 100,000 bpd production complete with pipeline access to US markets .  
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