MEG Energy Corp


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Next Event

Q4 2020 MEG Energy Corp Earnings Release

Latest Developments


Meg Energy Announces Pricing Of 5.875% Senior Unsecured Notes

MEG Energy Reports $600 Mln Offering Of Senior Unsecured Notes

Meg Energy Expects 2021 Capital Budget Of C$260 Mln


About MEG Energy Corp

MEG Energy Corp (MEG) is a Canada-based oil sands company. It is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is engaged in developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods. The Company has the following commercial SAGD projects: the Christina Lake Project and the Surmont Project. The Christina Lake Project is situated on over 80 square miles of oil sands leases in the southern Athabasca oil sands region of Alberta. MEG owns working interest in the oil sands leases associated with the Christina Lake Project. The Surmont Project comprises over 30 square miles of lands in the southern Athabasca oil sands region of Alberta. The Surmont Project is located approximately 50 miles south of Fort McMurray. MEG owns working interest in the oil sands leases associated with the Surmont Project.


Oil & Gas Operations

Contact Info

25th Floor-Main Floor Reception

21st Floor-Mail Room,, 600, 3 Avenue SW


T2P 0G5



Executive Leadership

Jeffrey J. McCaig

Independent Chairman of the Board

Derek W. Evans

President, Chief Executive Officer, Director

Eric L. Toews

Chief Financial Officer

Chi-Tak Yee

Chief Operating Officer

Lyle S. Yuzdepski

Senior Vice President, General Counsel, Corporate Secretary

Key Stats

2.65 mean rating - 17 analysts
Revenue (MM, CAD)
















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Latest News

Latest News

CANADA RESEARCH ROUNDUP- Hudbay Minerals, MEG Energy, Slate Office REIT

Securities analysts revised their ratings and price targets on several Canadian companies, including Hudbay Minerals, MEG Energy and Slate Office REIT, on Monday. HIGHLIGHTS * Hudbay Minerals Inc : Canaccord Genuity raises target price to C$5 from C$4.50 * MEG Energy Corp...

CANADA STOCKS-TSX falls with MEG Energy leading declines, coronavirus fears linger

Canada's main stock index fell on Monday on concerns over the economic impact of the coronavirus, with losses led by oil and gas producer MEG Energy, which sought to shelve an oil sands project.

REFILE-MEG Energy asks Alberta to shelve oil sands project - Globe & Mail

Canada's MEG Energy Corp has asked Alberta Energy Regulator (AER) for a three-year delay to the approval process of a proposed oil sands project in the province, because of what it called continuing difficulties, the Globe and Mail reported.

MEG Energy joins opposition to Enbridge pipeline changes in Canada

Oil sands producer MEG Energy Corp has become the largest producer so far to call for pipeline company Enbridge Inc to scrap plans to introduce long-term, fixed-volume contracts on its Mainline system, in a letter to Canadian regulators laying out its opposition.

MEG Energy complains to Canada regulator over proposed Enbridge pipeline changes

Oil sands producer MEG Energy has written to Canada's energy regulator to oppose pipeline company Enbridge Inc's plan to introduce long-term fixed volume contracts on its Mainline system.

MEG Energy beats adjusted profit estimates on higher output, prices

MEG Energy Corp <MEG.TO> reported a bigger-than-expected quarterly profit on Tuesday, as the Canadian oil sands producer benefited from a surge in production and higher prices.

MEG Energy Corp second-quarter loss narrows

Canadian oil sands producer MEG Energy Corp reported a smaller quarterly loss on Tuesday, benefiting from selling more barrels of bitumen crude at higher prices.

MEG Energy posts bigger-than-expected quarterly loss

Canadian oil sands producer MEG Energy Corp reported a bigger-than-expected quarterly loss on Thursday, as the company sold its bitumen crude at lower prices because of transportation bottlenecks.

MEG Energy's fourth-quarter loss widens

MEG Energy Corp reported a bigger quarterly loss, as the Canadian oil sands producer sold bitumen crude at lower prices.

Despite 60 percent support, Canada's Husky scrapped MEG oil merger

When the final numbers were tallied late last Wednesday for Husky Energy's hostile bid for rival Canadian oil producer MEG Energy, Husky's top executives learned they had the support of nearly 60 percent of MEG shareholders, people familiar with the situation told Reuters.

MEG Energy cuts capital expenses to C$275 mln in 2019

Canadian oil sands producer MEG Energy Corp <MEG.TO> said on Tuesday it would halve its capital spending to a maximum of C$275 million ($206.33 million) this year amid a global supply glut.

MEG Energy expects to spend up to C$275 mln in 2019

Canadian oil sands producer MEG Energy Corp said on Tuesday it expects to spend up to C$275 million ($206.33 million) this year, after fighting off a hostile bid last week from bigger rival Husky Energy Inc .

Exclusive: Canadian oil firm MEG says Husky balked at friendly takeover talks

Canadian oil producer MEG Energy Corp's CEO invited his Husky Energy Inc counterpart this month to negotiate a friendly takeover of MEG, but Husky did not follow up, MEG's vice president of investor relations John Rogers said on Friday.

Husky scraps bid for oil rival MEG Energy, citing Alberta output cuts

Canadian oil producer Husky Energy <HSE.TO> shocked investors on Thursday when it abandoned its hostile bid for MEG Energy <MEG.TO>, saying it could not win sufficient MEG shareholder support after Alberta's government ordered production cuts to reduce a crude glut.

Husky Energy to receive majority support in MEG takeover bid -sources

Husky Energy Inc expects to secure over 50 percent support from MEG Energy shareholders for Husky's unsolicited offer to take over the rival oil producer by Wednesday's deadline, people familiar with the situation told Reuters.

Canada's Husky Energy considering sale of non-core downstream assets

Canadian oil and gas producer Husky Energy Inc <HSE.TO> said on Tuesday it will conduct a strategic review and is considering a sale of its non-core downstream assets.

Canada's Husky gets regulatory approvals to buy MEG Energy

Canadian oil and gas producer Husky Energy Inc <HSE.TO> said on Tuesday it has received regulatory approvals to buy rival MEG Energy Corp <MEG.TO>, but MEG has yet to agree on the deal.

Husky posts bigger profit on higher oil prices, waits on MEG talks

Canadian oil and gas producer Husky Energy Inc reported a bigger third quarter profit on Thursday, topping expectations with a boost from higher crude oil prices.

Canada's MEG rejects Husky Energy buyout offer

Canada's MEG Energy Corp <MEG.TO> on Wednesday rejected Husky Energy Inc's <HSE.TO> offer to buy the oil and gas producer, saying the proposal undervalued the company.

Merger talks started in spring between Canadian oil companies Husky, MEG

Canadian oil companies Husky Energy Inc <HSE.TO> and MEG Energy Corp <MEG.TO> discussed a possible merger for months, and one major MEG shareholder expressed interest early, before Husky was rebuffed and launched a hostile bid this week, according to a Husky filing.

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