MEGEF News and Press, Meg Energy Corp From 07/18/22

Oil inventories continue to trend lower to levels not seen in decades as product demand outpaces supply growth. Demand destruction is unlikely, as prices will have to move materially higher prior to dissuading consumers. Oil supply has not shifted, as operators remain focused on c...

MEG is one of the best in-situ operators both in terms of iSOR and OPEX minimization. Its low royalty rate and hedge-free, operations yield some of the highest field netbacks in the industry. At current pricing, MEG is poised to generate US$1.6 billion in free cash flow in 2022, e...

Cenovus (CVE) announced Monday the acquisition of a 50% interest in the Sunrise oil sands project from BP (BP). Cenovus already owns the other 50% of the project and operates the asset. The company will pay BP (BP) C$600m up front, with a C$600m max earnout, and swap a 35% stake in the undeve...

No company personifies the turnaround in energy markets quite like MEG Energy (OTCPK:MEGEF); Thursday the company kicked off its share buyback program with the purchase of 4.3m shares. The company had announced approval of the buyback during Q1 results, with the TSE authorizing the repurchase...

Canada's oil production could increase by 900K bbl/day to make up for supply losses from Russia's war in Ukraine, Alberta Premier Jason Kenney testified at a U.S. Senate committee on Tuesday. The Canadian government has previously said the country could raise oil exports via pipeline by 300K ...

MEG Energy Corp. (MEGEF) Q1 2022 Earnings Conference Call May 03, 2022 09:00 AM ET Company Participants Derek Evans - President, CEO & Director Eric Toews - CFO Darlene Gates - COO Lyle Yuzdepski - General Counsel and Corporate Secretary Conference Call Participants Greg Pardy - RBC Neil ...

Meg Energy press release (OTCPK:MEGEF): Q1 GAAP EPS of C$1.15. Revenue of C$1.53B (+68.1% Y/Y). For further details see: Meg Energy GAAP EPS of C$1.15, revenue of C$1.53B

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Business was never better in the Canadian oil patch than during the first quarter of 2022. Canadian Natural (CNQ), International Petroleum (OTC:IPCFF) and MEG (OTCPK:MEGEF) have all rallied 50-100% on the year. If commodity prices hold, Q2 should be even better; however, investors are sure to...

MEG Energy is our 2nd largest position in the portfolio. At $105/bbl WTI, it has a free cash flow yield of over ~30%. By year-end, MEG Energy's debt level will be well below C$1 billion, allowing it to return more capital back to shareholders. MEG also has no oil hedges this y...