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MEG Energy Corp (MEG.TO)

MEG.TO on Toronto Stock Exchange

5.50CAD
17 Nov 2017
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Latest Key Developments (Source: Significant Developments)

Meg Energy Corp Q3 operating ‍loss per share $0.14​
Thursday, 26 Oct 2017 06:00am EDT 

Oct 26 (Reuters) - Meg Energy Corp :Meg Energy reports strong operating and financial results and ongoing efficiency gains for the third quarter of 2017, contributing to an $80 million reduction in its 2017 capital investment and a further decrease in non-energy operating cost guidance.Meg Energy Corp qtrly operating ‍loss per share $0.14​.Meg Energy Corp qtrly earnings per share $‍0.28​.Meg Energy Corp - ‍Q3 2017 production averaged 83,008 bpd, compared to 72,448 bpd for previous quarter​.Meg Energy Corp - ‍remains on track to meet 2017 average production guidance of 80,000-82,000 bpd & exit year with production of 86,000-89,000 bpd​.Meg Energy Corp - ‍company has reduced its 2017 capital investment program to $510 million​.Meg Energy Corp - ‍now anticipate spending $350 million on implementation of EMSAGP on phase 2b​.  Full Article

MEG Energy reports qtrly earnings per share $0.35‍​
Thursday, 27 Jul 2017 06:00am EDT 

July 27 (Reuters) - MEG Energy Corp ::MEG Energy reports solid second quarter 2017 results supported by record low per barrel non-energy operating costs, while successfully completing major turnaround activities.MEG Energy Corp- ‍quarterly production volumes of 72,448 barrels per day​.MEG Energy Corp- ‍company remains on track to meet its 2017 average production guidance of 80,000 to 82,000 bpd​.MEG Energy Corp- ‍for Q2 of 2017, net operating costs were $7.42 per barrel, compared to $8.43 per barrel in previous quarter​.Qtrly earnings per share $0.35‍​.MEG Energy Corp- ‍MEG's 2017 capital budget guidance remains at $590 million​.  Full Article

MEG Energy qtrly net earnings $1.6 mln vs. $130.8 mln
Thursday, 11 May 2017 05:00am EDT 

May 11 (Reuters) - MEG Energy Corp :MEG Energy reports first quarter 2017 results.Quarterly production volumes of 77,245 barrels per day.Qtrly net earnings $1.6 million versus $130.8 million.On track to meet annual production guidance of 80,000 BPD-82,000 BPD, targets exit production for 2017 of 86,000 BPD-89,000 BPD.  Full Article

Meg Energy announces pricing of senior secured notes due 2025 offering
Thursday, 12 Jan 2017 06:24pm EST 

Meg Energy Corp : MEG Energy announces pricing of senior secured notes due 2025 offering . MEG Energy Corp -pricing of its previously announced private offering of us $750 million in aggregate principal amount of new senior secured notes due 2025 .Meg Energy Corp - secured notes will bear interest at a rate of 6.50%.  Full Article

Meg Energy announces proposed offering of senior secured notes due 2025
Thursday, 12 Jan 2017 08:26am EST 

Meg Energy Corp : Meg Energy announces proposed offering of senior secured notes due 2025 . Planning to commence private offering of us $750 million in aggregate principal amount of new senior secured notes due 2025 .Intends to use net proceeds, together with cash on hand, to finance redemption of all of outstanding 6.50 pct senior notes due March 15, 2021.  Full Article

MEG Energy announces refinancing plan including extended 5 year covenant-lite revolving credit facility
Wednesday, 11 Jan 2017 04:06pm EST 

Meg Energy Corp : Meg energy announces comprehensive refinancing plan including an extended 5 year covenant-lite revolving credit facility, a cdn$357 mm equity financing and a return to growth 2017 capital budget . Says is targeting 2017 average production of 80,000 to 82,000 bpd . Meg's existing us$750 million of unsecured notes due 2021 will be refinanced and extended with new second lien indebtedness . Meg energy corp says us$1.2 billion term loan will be refinanced to extend its maturity . Meg energy corp - $590 million capital budget for 2017 focused on funding approximately 20,000 barrels per day of highly economic emsagp production growth . Meg energy corp says net proceeds from offering will be used to partially fund company's 2017 $590 million capital budget . Meg energy corp says to sell 46 million subscription receipts of meg at a price of $7.75 per subscription receipt . Says related non-energy operating costs for 2017 are anticipated to be in range of $5.75 to $6.75 per barrel .Meg energy -expects to fund 2017 capital budget with net proceeds of its $357 million equity issuance, 2017 cash flow from operations, and cash on hand.  Full Article

Meg energy production of 83,127 BPD in q2 of 2016
Thursday, 28 Jul 2016 06:05am EDT 

Meg Energy Corp : Production of 83,127 bpd in q2 of 2016 . Expects to meet annual production guidance of 80,000 to 83,000 bpd . Q2 loss per share $0.65 Further company coverage: [MEG.TO] (Bengaluru Newsroom +91 80 6749-1130; within U.S. +1 646 223 8780).  Full Article

MEG Energy Corp says small fire has been extinguished at its Christina Lake sulphur plant - Reuters
Thursday, 3 Mar 2016 07:37pm EST 

MEG Energy Corp:Reports incident at Christina Lake sulphur plant.Says there were no injuries and all workers on site are safe.Says production at the Christina Lake site has been temporarily suspended.Says fire was confined to the sulphur plant and did not impact the integrity of the main processing facilities.  Full Article

MEG Energy posts bigger-than-expected third quarter loss, cuts capex

Canada's MEG Energy Corp on Thursday reported a bigger-than-expected quarterly loss and slashed its capital budget for the year as it cuts costs to offset weak overall demand for Canadian heavy crude in a volatile oil market.