MEGEF - MEG Energy not a 'driver' in oil sands consolidation CEO says

MEG Energy ([[MEGEF]] -0.6%) CEO Derek Evans brushes aside takeover speculation in the wake of Cenovus Energy's buyout of Husky Energy, saying the company does not consider itself a "driver" in the consolidation business."We are going to continue what we've been doing," concentrating on continuing to operate its business as the largest remaining pure-play bitumen producer in the oil sands, Evans says.But analysts Dennis Fong of CIBC and Phil Skolnick of Eight Capital both say they still consider MEG the most logical target if consolidation continues in the oil sands.Skolnick notes there is no pressure on MEG to do a deal because it is well supplied with cash and its earliest maturing long-term debt does not come due until March 2024.MEG swung to a Q3 net loss of C$0.03/share compared with a year-ago profit as revenues fell 44% Y/Y to $533M.

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MEG Energy not a 'driver' in oil sands consolidation, CEO says