RE:RE:Q3 ResultsHighOctane89 wrote: The 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 .
Nice to see you here HO.
I'm liking the news, but I keep wondering one thing... Why can't they release little tidbits of info to the public on a more regular basis, and stop making the public wait for quarterly news?
If it's a strategy to buy back more shares cheaper, it is definately working for them... Otherwise I think they should have dropped the 50/50 FCF news 6 weeks ago and let it give them a boost. Since the talk of a buyout has come up about MEG for years now, they should keep the share price as high as possible at all times.