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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

Post by andy604on Jul 25, 2024 10:18pm
233 Views
Post# 36149196

Canadian press Calgary

Canadian press Calgary

The Calgary-based oilsands company says it earned $234 million in its second quarter, up from $217 million a year earlier.

Revenues totalled $2.7 billion, down from $2.8 billion during the same quarter last year.

Earnings per diluted share were 86 cents, up from 74 cents last year.

President and CEO Darlene Gates said the company continued to see strong production volumes and expects volume growth throughout the remainder of the year.

MEG said the Trans Mountain expansion had a successful start-up in May 2024, and the company began shipping product in the new pipeline to Canada’s West Coast.

 

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