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MEG Energy Corp. (T:MEG)

Business Focus: Unconventional Oil & Gas Production

INK Edge Outlook

Mostly sunny as of March 01, 2024
For the latest outlook, get the company report

Insider Chart - Past 6 Months

Insider Filings

Latest 10 SEDI filings for MEG within the last 6 months
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Company News

Mar 06, 2024 16:00 ET
MEG Receives TSX Approval for Renewal of Normal Course Issuer Bid
CALGARY, AB, March 6, 2024 /CNW/ - MEG Energy Corp. (TSX: MEG) ("MEG" or the "Corporation") announces today that the Toronto Stock Exchange (the "TSX") has approved the renewal of the Corporation's normal course issuer bid (the "Bid").
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Feb 29, 2024 16:30 ET
MEG Energy announces 2023 financial and operating results
All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen unless otherwise noted. The Corporation's Non-GAAP and Other Financial Measures are detailed in the Advisory section of this news release. They include: cash operating netback, bitumen realization net of transportation and storage expense, operating expenses net of power revenue, energy operating costs net of power revenue, non-energy operating costs, energy operating costs, adjusted funds flow, free cash flow and net debt.
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Valuation Ratios

Industry
Sector
Beta
3.15
--
--
Price to Sales - TTM
1.48
1.48
3.35
Price to Book - most recent quarter
1.87
1.87
1.74
Price to Cash Flow per share - TTM
7.21
7.21
5.91
Price to Free Cash Flow per share - TTM
9.33
9.33
16.52
See all valuations

Short Report

DateNumber of Shares ShortedNet Change
Mar 15, 20244,182,499-2,072,114
Feb 29, 20246,254,613-1,206,850
Feb 15, 20247,461,463-1,001,719
See Short Report

Business Summary

Sector:  Energy Industry:  Oil & Gas Exploration and Production

MEG Energy Corp. is a Canada-based energy company focused on sustainable in-situ thermal oil production in the southern Athabasca 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 responsible economic recovery of oil, as well as lower carbon emissions. It transports and sells thermal oil (AWB) to customers throughout North America and internationally. The Company owns a 100% interest in over 410 square miles of mineral leases in the southern Athabasca oil region of Alberta, Canada and is primarily engaged in sustainable in situ thermal oil production at its Christina Lake Project. Christina Lake Project is a multi-phased project, located 150 kilometers south of Fort McMurray in northeast Alberta. It comprised of approximately 200 square kilometers of leases.

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