MEG Energy Corp. (T:MEG)
Business Focus: Unconventional Oil & Gas Production
| Sector: Energy | Industry: Oil & Gas Exploration and Production |
| See Regulatory Filings on SEDAR | |
| Company Contact | |
| Address: | 600 - 3rd Avenue S.W., 21st Floor CALGARY AB T2P 0G5 |
| Tel: | N/A |
| Website: | www.megenergy.com |
| IR: | See website |
| Key People | ||
| Derek W. Evans President, Chief Executive Officer, Director | Eric L. Toews Chief Financial Officer | Darlene Miriam Gates Chief Operating Officer |
| Lyle S. Yuzdepski Senior Vice President - Legal, General Counsel, Corporate Secretary | Chi-Tak Yee Chief Technology Officer | |
| Business Overview |
| MEG Energy Corp. is a Canada-based energy company. The Company is focused on sustainable in situ thermal oil production in the southern Athabasca region of Alberta, Canada. The Company is developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods to improve the economic recovery of oil as well as lower carbon emissions. The Company transports and sells its thermal oil to customers throughout North America and internationally. Its technologies include SAGD, enhanced Modified Steam and Gas Push (eMSAGP), enhanced Modified VAPour EXtraction(eMVAPEX), and Cogeneration. It owns, leases and contracts for services at multiple facilities in order to transport, store and deliver Access Western Blend (AWB) to its customers. The Company's Christina Lake Project is a multi-phased project located 150 kilometers south of Fort McMurray in northeast Alberta. The project is comprised of approximately 200 square kilometers of leases. |
| Financial Overview |
| For the fiscal year ended 31 December 2022, MEG Energy Corp revenues increased 42% to C$6.12B. Net income increased from C$283M to C$902M. Revenues reflect Petroleum revenue, net of royalties segment increase of 41% to C$5.97B, Power revenue segment increase of 66% to C$144M, United States segment increase of 87% to C$4.53B. Net income benefited from Realized loss (gain) on commodity risk decrease from C$314M (expense) to C$10M (income). |
| Employees: | 429 as of Dec 31, 2022 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $7,635M as of Dec 31, 2022 |
| Annual revenue (TTM): | $6,118M as of Dec 31, 2022 |
| EBITDA (TTM): | $2,082M as of Dec 31, 2022 |
| Net annual income (TTM): | $902.00M as of Dec 31, 2022 |
| Free cash flow (TTM): | $1,512M as of Dec 31, 2022 |
| Net Debt Last Fiscal Year: | $1,633M as of Dec 31, 2022 |
| Shares outstanding: | 287,716,789 as of Mar 14, 2023 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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