MEG Energy Corp T.MEG

What has MEG been doing with fcf

[perstrudent]

Since July 26 they repurchased only 15 million debt.....massive buybacks this past month?..we will see when they file month end..but debt shows up daily and there hasnt been much compared to spring they were buying daily.

[Fuzman5902]

Could be a couple things As the debt isn't callable until next April either the debt has become too expensive or the sellers have dried up? Regards Fuz

[Volkomm]

That's a Texas sized 10-4. 1. Notes aren't redeemable yet. 2. Mark to market discount isn't worth it anymore. 3. Notes holders are drying up. This is why we saw small + consistent purchases. I suspect they will hoard cash going forward and do a big lump sum. Time will tell. 

[ManitobaCanuck]

Definitely Buybacks,I assume .Lots of weak hands selling and not a lot of funds wanting to buy .They are smart to have bought back all the way from 14-15 n 16.

[perstrudent]

Its possible we will see first week of Sept when they report....but with roughly 120 million fcf a month..and 15 million debt repurchased...this would be roughly 6 million shares they repurcahsed...ina  single month...its doable as they are allowed to repurchase 500k share per day...so 10 million per month...but if 25% of the daily volume was going to sharebuybacks i feel the stock would have