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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MEG Energy Corp > CC: CFO: ABSOLUTE CLARITY In ELIMINATING USD 100M 2027 Notes

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Comment by ztransforms173on Jul 26, 2024 9:38am

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Post# 36149552

RE:CC: CFO: ABSOLUTE CLARITY In ELIMINATING USD 100M 2027 Notes

- NOW, It makes BETTER SENSE than their PREVIOUS DECLARATION

- BASICALLY, NET DEBT becomes LONG-TERM DEBT
MEANING the USD 600 million 5.875% 2029 senior unsecured NOTES

- MEG has NO INTENTION to PAY OFF the 2029 Notes UNTIL they are DUE and then they will be SIMPLY REISSUE a NEW SET of NOTES TO REPLACE THEM

- they are DOING THIS to MAINTAIN an EFFICIENT CAPITAL STRUCTURE since EQUITY COST OF CAPITAL is MUCH MORE EXPENSIVE than DEBT COST OF CAPITAL

z173

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