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Bullboard - Stock Discussion Forum 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... see more

TSX:MEG - Post Discussion

MEG Energy Corp > Share buybacks
View:
Post by MyHoneyPot on Sep 09, 2024 1:46pm

Share buybacks

Looking at the share price today and the average repurchase price in Q2, $30.39?

I simply don't believe in share buybacks for MEG as it is ultimately setting itself up for a sale anyway.

Simply keep the cash on the balance sheet for a possible eligable future dividend, increase the enterprise value of the company, and reducing debt servicing costs. 

I don't think these fiscal gymnastics exercises really return anything to shareholders in the long run, only trading desks like Nine Points see upside.

IMHO
MHP
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