Operator · Canada Oil Sands
MEG Energy
39 articles mentioning MEG Energy · Page 1 of 2
MEG Energy Rejects Strathcona Resources' $6 Billion Takeover Offer
MEG Energy Rejects Strathcona Resources' $6 Billion Takeover Offer Overview of the Offer: Bidder: Strathcona Resources Ltd. Offer: 0.62 Strathcona shares + $4.10 in cash per MEG share Implied value: Below MEG Board’s expectations Deadline: Offer...
MEG Energy Taps New COO, CTO
MEG Energy Corp. reported the appointment of Darlene Gates as the Company’s Chief Operating Officer and Chi-Tak Yee in the new position of Chief Technology Officer commencing September 7, 2021. About Gates Ms. Gates joins MEG...
MEG Energy Fourth Quarter, Full Year 2020 Results
MEG Energy Corp. reported its full-year 2020 operational and financial results. Highlights include: Free cash flow of $129 million driven by adjusted funds flow of $278 million ($0.91 per share) and disciplined capital spend of $149...
MEG Energy Accelerates Spending 73% for 2021 to $260 Million
MEG Energy Corp. has reported its 2021 capital investment plan. Its 2021 program is designed to be fully funded within 2021 cash flow at a full year average WCS price of approximately US$30.00 per barrel. 2021...
MEG Energy Details Fourth Quarter 2019 Results
MEG Energy Corp. reported its full year 2019 operational and financial results. Highlights include: Free cash flow of $528 million driven by adjusted funds flow of $726 million ($2.41 per share) and disciplined capital spend of...
MEG Details Preliminary Q4 2019 Results; Updates Hedges
MEG Energy Corp. reported its preliminary results for Q4 2019. Production & Financials Production and financial estimates include: Hedges In the fourth quarter of 2019 and the first few days of 2020, MEG entered into additional...
Oil Sands Operators to Increase 2020 Spending +14% to $10 Billion
The top oil sands operators disclosed their capital spending budugets and 2020 will see an increase of +14%. CNRL is the only company that did not provide a detailed break-out of the company's capex. As we...
MEG To Increase 2020 Capital Spending 25% Year over Year
Meg today released it 2020 capital program, and here is a quick read through. 2020 capital budget will be $250 million up $50 million from planned 2019 spending. Production is expected to aveage 95,500 barrels of...
MEG Energy Reports Q3 2019 Results
MEG Energy Corp. reported its Q3 2019 results. Highlights include: Adjusted funds flow of $192 million ($0.63 per share) and $152 million free cash flow in the quarter. For the nine months ended September 30, 2019,...
MEG Energy Reports Second Quarter 2019 Results
MEG Energy Corp. reported its second quarter 2019 operational and financial results. Highlights include: Record free cash flow of $195 million and adjusted funds flow of $227 million ($0.76 per share) in the quarter. For the...
MEG Energy Reports Q1 2019 Results
MEG Energy Corp. reported its first quarter 2019 operational and financial results. Highlights include: Bitumen production volumes of 87,113 barrels per day (bbls/d) at a steam-oil-ratio (SOR) of 2.2, reflecting continued Alberta-wide mandated curtailments on MEG's...
Husky Ditches Merger with MEG Energy Despite Shareholder Support
Husky Energy has abandoned its plan to acquire Canadian oil sands-focused MEG Energy on January 17, 2019. The company said it was "due to insufficient MEG board and shareholder support." However, according to a report by...
MEG to Spend $200MM in 2019; Majority of Capital Allocated to DUCs
MEG Energy Corp. detailed its 2019 capital investment plan and operational guidance. *All figures are in Canadian dollars Highlights: - 2019 Capex: $200 million MEG has earmarked an additional $75 million to add to the budget...
After Failed Offer, Husky Eyes Hostile Takeover of MEG Energy
After receiving a rejection from MEG Energy for its $3.3B buyout offer in October, Husky Energy seems to be moving to launch a hostile takeover of the company. Husky announced that it has met all regulatory...
MEG Energy Rejects Husky's Offer; Will Seek Other Buyers
MEG Energy's Board of Directors has unanimously determined that Husky Energy’s unsolicited bid to acquire MEG significantly undervalues the company. Husky submitted a ~$3.3 billion-dollar offer for MEG in the beginning of October 2018. This proposal...
Husky Makes Offer for Canadian Oil Sands Co. MEG Energy
Husky has announced a proposal to acquire all of the outstanding shares of MEG Energy for implied total equity consideration of approximately $3.3 billion. This proposal values MEG at an implied total enterprise value of approximately...
MEG Energy Names New COO
MEG Energy has appointed Chi-Tak Yee, currently Senior Vice President, Operations, Resource & Technology Development, to the position of Chief Operating Officer (COO). Mr. Yee joined MEG in 2004, and has been instrumental in the Company’s...
MEG Energy Gets New President & CEO
MEG Energy announced that its Board of Directors has unanimously appointed Derek Evans to the position of President and CEO, effective immediately. Mr. Evans has over 35 years’ experience in the Canadian oil and gas business,...
MEG Energy Announces Resignation of Director
MEG Energy announced the resignation of Daniel S. Farb as a director of the Corporation effective immediately.
MEG Energy President & CEO to Retire
MEG Energy's President & CEO Bill McCaffrey will be retiring effective May 31, 2018. Harvey Doerr, a member of MEG’s Board of Directors, will act as interim CEO during the search process for a permanent replacement....