Bullboard - Stock Discussion Forum 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... see more

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MEG Energy Corp > Canadian press Calgary

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Post by andy604 on Jul 25, 2024 10:18pm

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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