RE:RE:NOT SURPRISED At ALL ! EX-MEG CEO Becomes EC Of PA ! NICE !
MisterK25 - (5/18/2024 12:02:57 PM) RE:NOT SURPRISED At ALL ! EX-MEG CEO Becomes EC Of PA ! NICE !
After Derek drove Pengrowth Energy into the ground it confounds me that he gets so much praise. I guess people have short memories......
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- he was NOT RESPONSIBLE for the DEMISE of Pengrowth Energy
- BLAME the COLLAPSE in crude oil prices in 2014-2015 which ALMOST KILLED MEG Energy with the SAME HIGH-DEBT LOAD PROBLEM
* MEG RECOVERED after a DRACONIAN COST-CUTTING SPREE (and selling pipeline and storage terminal interests) but Pengrowth Energy DID NOT have CAPITAL and LIQIUDITY to ABSORB the FINANCIAL HITS after MASSIVELY BORROWING and SPENDING on the HIGHLY-RATED Lindbergh SAGD project which CEO Derek Evans brought ON TIME and ON BUDGET
- MEG Energy is the SUPERIOR company that it is TODAY because both EX-CEOS (Derek and the M in MEG Energy: Bill McCaffrey) RUTHLESSLY COST COSTS and made some REALLY GOOD EXECUTIVE DECISIONS with the 100,000 bbls/d pipeline capacity to the US Gulf Coast being ONE of the BEST {made by Bill McCaffrey} and REMOVING WTI/WCS HEDGES in 2022
- Derek Evans DESERVES the HIGH PRAISE because he EARNED IT
z173
MisterK25 - (5/18/2024 12:02:57 PM)
RE:NOT SURPRISED At ALL ! EX-MEG CEO Becomes EC Of PA ! NICE !
After Derek drove Pengrowth Energy into the ground it confounds me that he gets so much praise. I guess people have short memories......