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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Comment by cashtango00on Dec 07, 2022 3:49pm

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Post# 35157304

RE:RE:RE:Over

I am not sure anyone is saying we aren't using oil anytime soon, it just matters what the price of the last barrel produced sells for and that comes down to demand and supply. As the price of WTI slips into the 60s and the WCS spread has pushed a lot of producers into the mid/high 40s US and oil sands because much less attractive. At 60 WTI, MEG produces single digit FCF. Nuttall on Bloomberg yesterday was preaching how MEG was 25% FCF which is a complete lie because he's using a commodity price almost 30 bucks higher than Meg is actually receiving. Ridiculous.

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